The Kernutt Stokes Advisor

Data Protection and Risk Mitigation

By Tom Kielty Data protection and risk mitigation are increasingly important subjects for businesses to address because modern hacking techniques have become more varied and debilitating than ever before. Due to the outward facing nature of critical line of business software in use today (email, remote office requirements, and hosted websites), there are many avenues for people who are trying…

Tip: What the Fed’s Rate Hike Means for Small Businesses

The Federal Reserve’s mid-March hike to interest rates – its second increase to base interest rates in three months – was a strong confirmation that the economy is doing well. The Fed had kept interest rates at historically low levels in order to support a recovery after the recent recession (commonly referred to as the Great Recession), which occurred, roughly,…

Stock Market: Swings and Roundabouts

March brought forth some upsets in the financial markets as the Trump Administration’s big push to repeal the Affordable Care Act hit the skids. Overall, investors received mixed signals from both the markets and from leading commentators, as the experts tried to assess the extent of the damage, if any, to President Trump’s overall agenda. On the positive side, strong…

Forest Products Spotlight

Today’s forest product companies are constantly improving to better position themselves to face market challenges such as price volatility, workplace safety, increasingly complex regulatory environment, globalization, Canadian imports, labor disputes, cash flow issues, and demand that is closely tied to residential construction. Kernutt Stokes has deep knowledge and many years of experience in the forest products industry, so we understand…

Hardship Withdrawals from Qualified Retirement Plans

By Dean Huber In February the IRS issued a memorandum to its employees involved in the audits of qualified retirement plans.  This memo addressed substantiation guidelines for hardship withdrawals that are treated as “safe harbor” withdrawals under Treasury Regulations.  Specifically, the guidelines outline the process for determining whether a hardship withdrawal was made “on account of a deemed immediate and…

Tip: Looking Ahead to Tax Code Changes

During his campaign, President Trump took aim at the Tax Code, saying he intended to simplify income tax laws. There is little doubt that a tax code overhaul is on the horizon, but what is less clear is exactly what the President proposes to include in what he is calling the Middle Class Tax Relief and Simplification Act. He also…

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