August highlights from The MWE Advisor: How should you treat the costs of developing your website for federal income tax purposes? A new final rule from the U.S. Department of Labor clarifies some of the ins and outs of multiple employer plans.
To Capitalize or Expense: How to Treat Website Costs for Tax Purposes
Virtually every business has a website today. It might be used to provide information about products and services, serve as a distribution channel, and/or attract new customers and prospective employees. How should the costs of developing your website be treated for federal income tax purposes? There isn’t a simple answer. In the absence of specific IRS guidance on these costs, you must piece together existing guidance on other subjects.
Expanding Retirement Plan Options for Small Businesses
Only half of private sector employers with fewer than 100 employees sponsor retirement plans. But more small businesses are likely to join the bandwagon thanks to a new final rule issued by the U.S. Department of Labor. The rule will allow more businesses, including self-employed individuals, to offer multiple employer plans that provide their employees a defined contribution plan. Here are the details.