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Applying the Compensation Limit When Calculating Contributions November 6, 2017

This article has been reposted with permission from Alvarez & Marsal Taxand, LLC. For more information, please visit their website.  Applying Code § 401(a)(17) to Contribution Calculations Internal Revenue Code (“Code”) § 401(a)(17) establishes a limit on the amount of annual compensation that can be recognized in qualified retirement plans. The Code § 401(a)(17) limit […]

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Paul Dunn to Speak at APQC 2017 Conference September 11, 2017

MCG partner Paul Dunn will be speaking at APQC’s 2017 Process & Performance Management Conference, which will be held from October 1 – 5, 2017 at the Houstonian Hotel in Houston, Texas. The conference features a wide-range of programs exploring best practices to improve agility and performance. It is attended by business leaders concerned with […]

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Announcing Our Coaches and Associates of Q2 2017! August 15, 2017

  Micah Simmang – Audit Coach of the Quarter Michelle Volpe – Audit Associate of the Quarter Natalie Moon – Consulting Coach of the Quarter Linzi Friedman – Consulting Associate of the Quarter Rebecca Jones – Tax Coach of the Quarter Kevin Gillsepie – Tax Associate of the Quarter Chris Hempel – Sales Tax “Like a Boss” Award MCG recognizes […]

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MCG Welcomes New Fort Worth Partner Ana Coscia August 3, 2017

Plano-based CPA firm Montgomery Coscia Greilich LLP (MCG) has announced that Ana Coscia has recently joined as a Tax Partner in its Fort Worth location. An experienced CPA with significant tax practice leadership and client service skills, Ana will oversee the Fort Worth location’s tax practice. With over 15 years of comprehensive federal tax services […]

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Paul Dunn Named as Examiner for 2017 Malcolm Baldrige National Quality Award July 21, 2017

The Commerce Department’s National Institute of Standards and Technology (NIST) has named Paul Dunn, Partner at Montgomery Coscia Greilich LLP (MCG) in Dallas, Texas, to the Board of Examiners for the 2017 Malcolm Baldrige National Quality Award. The Baldrige Award is the nation’s highest honor for organizational innovation and performance excellence. Appointed by the NIST […]

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DOL Disclaimer Audit Opinion Proposed Changes July 7, 2017

Comments are due by August 21, 2017, on proposed changes to the audit opinion issued on DOL disclaimer audits, including detailing findings noted during audit procedures. On April 20, 2017, the Auditing Standards Board (“ASB”) issued an Exposure Draft, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA.  The […]

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MCG’s Christy Kimball Wins the Achiever Award in the Fort Worth Admin Awards June 8, 2017

MCG is excited to celebrate Christy Kimball’s winning of the Achiever Award in the Fort Worth Admin Awards this past week. The Achiever Award recognizes the administrative professional that has either recently managed a significant project with a company-wide impact, or continuously demonstrates resourcefulness and perseverance in their day-to-day, or both. We’re proud that Christy’s […]

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Announcing Our Coaches and Associates of Q1 2017! April 25, 2017

Darin Frizzel – Audit Coach of the Quarter Candice Vermeulen – Audit Associate of the Quarter Ross Taylor – Consulting Coach of the Quarter Emily Campiere – Consulting Associate of the Quarter Michael Pham – Tax Coach of the Quarter Edy Reyes – Tax Associate of the Quarter Selen Paredes – Sales Tax “Like a […]

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Congratulations to MCG’s 2016 Core Value Awards Winners! February 8, 2017

Paul Somers – Value Meghan Hardison – Integrity Dillion Mazzuca – Purpose Renee Padilla – Excellence Jennifer Giannini – Relationships Carlos Rojo – Relentless Each year, MCG recognizes six individuals that embody our core values, as well as one individual that exemplifies all of them in the VIPERR award. (Learn more about our core values.) […]

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Montgomery Coscia Greilich LLP Announces New Tax Partner January 26, 2017

January 24, 2017 – Plano-based CPA firm Montgomery Coscia Greilich LLP (MCG) has announced the promotion of Kevin Harris to Partner in the tax practice. Harris, a graduate of Texas Tech University, has been with the Firm since January 2013. His primary disciplines include performance of federal and state tax compliance, and consulting with partnerships, […]

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Pension Benefit Guaranty Corp (PBGC) New Payment System January 20, 2017

For 2017 PBGC Premium Filings, the new My PAA (My Plan Administration Account) is ready to start accepting electronic premium filings and payments. The Form 5500 is now requiring the My PAA payment confirmation number to be listed on Schedule H or Schedule I, depending on plan size. To use My PAA, you must set […]

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Important Defined Contribution Plan Deadlines January 20, 2017

The following deadlines are for calendar year-end plans. January 31st Form 1099-R Forms to be mailed File Form 945 (Annual Return of Withheld Federal Income Tax) March 15th IRS deadline for check issue date for refunds due to failed ADP and ACP nondiscrimination testing (to avoid 10% excise tax) March 31st Deadline for filing Form […]

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Form 5500 Changes in 2017 January 20, 2017

A summary of the 2017 Form 5500 reporting changes are highlighted below: Administrative Penalties The Form 5500 instructions have been updated to reflect the increase in the maximum penalty for a plan sponsor who fails or refuses to file a complete or accurate Form 5500 timely, from $1,100 each day to $2,063 a day. The […]

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Nationwide Injunction Issued on New FLSA Overtime Requirements November 28, 2016

***BREAKING: A federal judge in Texas issued a nationwide injunction blocking the new FLSA overtime rules on November 22, 2016. It was ruled that the U.S. Department of Labor overstepped its authority and states and business groups would suffer serious financial harm if the rule was put into effect as scheduled on December 1. What were […]

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Giving Employees Gifts: Tax Implications November 28, 2016

Awards and Prizes Under IRS regulations, prizes and awards given by an employer to an employee are generally taxable and included in the employee’s wages and subject to withholdings. (Exceptions to this general rule are de minimis items provided to employees and certain awards for safety and length-of-service.) A de minimis fringe benefit is defined […]

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MCG Congratulates Community Champion Award-Winner Sharla Gunn October 31, 2016

MCG is excited to congratulate Sharla Gunn on her winning the Dallas Admin Awards’ Community Champion Award. MCG’s philosophy of community service is rooted in our mission statement: be significant in the lives of others. As executive assistant to Firm co-founder Tom Montgomery, Sharla also directs all charity and volunteer activities for the firm, ensuring that MCG […]

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1099 Reporting: Frequently Asked Questions September 29, 2016

1. What is a 1099? The 1099 form is a series of documents the IRS refers to as “information returns.” There are a number of different 1099 forms that report the various types of income someone may receive through the year other than salary. There are many categories of 1099 forms: 1099-INT for interest, 1099-DIV […]

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New FLSA Overtime Requirements: Why They Matter and How to Prepare September 29, 2016

What are the new FSLA overtime requirements? On May 18, the U.S. Department of Labor released the final rule that raises the white collar overtime exemption threshold under the Fair Labor Standards Act (FLSA). This will increase the salary threshold for the overtime exemption from $455 a week ($23,600 annually) to $913 a week ($47,476 […]

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MCG Introduces Open Paid Time Off Policy August 24, 2016

The Dallas-based accounting firm Montgomery Coscia Greilich LLP (MCG) has formally adopted an Open Paid Time Off (PTO) policy for full-time exempt employees.  Under the Open PTO policy, employees are allowed to take as much time off as they need.  This differs greatly from the Firm’s outgoing, traditional PTO policy that dictates how many days […]

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MCG Named a DFW “Best Place to Work” August 5, 2016

Dallas-based accounting firm Montgomery Coscia Greilich LLP (MCG) has been named by the Dallas Business Journal as a “Best Place to Work” in the Dallas/Fort Worth Metroplex. “We are proud to have been named one of the Dallas Business Journal’s Best Places to Work. Our talented team of people exhibit our core values every day […]

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