News & Resources

Somerset Promotes Six Professionals to Senior Manager

Somerset is pleased to announce the recent promotions of six professionals to Senior Manager. Please join us in congratulating Hayley, Jeff, Cole, Pat, Jordan and Shelly! Hayley A. DeMasie, MSA, of Somerset’s Training & Development Team, has been promoted to

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President Joe Biden Potential Tax Plan

  Below is a select summary of certain items that we believe would impact our client base. This is not an all-encompassing summary, and there are other tax proposals that have been discussed. The below items are just items that

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Put Your Company’s Financial Statements to Work for You

It’s almost time for calendar-year businesses to prepare their year-end financial statements. If used correctly, these reports can be a valuable management tool. Use them in benchmarking and forecasting to be proactive, not reactive, to market changes. 1. Benchmarking Historical

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PPP Eligible Expenses Deductible

PPP ELIGIBLE EXPENSES DEDUCTIBLE The Consolidated Appropriations Act, 2021 is currently before the House and expected to pass tonight. The Act will then move to the Senate floor, where it is expected to pass and be sent to the President for signature.

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Employees: Don’t Forget About Your FSA Funds

Many employees take advantage of the opportunity to save taxes by placing funds in their employer’s health or dependent care flexible spending arrangements (FSAs). As the end of 2020 nears, here are some rules and reminders to keep in mind.

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