Current Job Opportunities

We are committed to providing a positive work environment and career growth opportunities for our staff. Our continued investment of time and resources into our team members is indicative of our commitment to excellence. We provide our employees with on the job training, extensive continuing education opportunities, and the ability for team members to not only be involved in all services we provide, but also to specialize in areas that best fit their career goals.

To submit your resume click here

Welcome to Deluzio & Company, LLP

We are a full service accounting firm dedicated to our clients, providing quality service with a quality team to assist your company with long term growth and stability. We provide a wide array of services to help you grow and sustain your business.

Our team is built to serve you, specializing in a multitude of areas permitting us to better serve our clients.

We aren’t just any accounting firm. We pride ourselves on quality, experience and drive to help you grow your business. Our greatest success is your success.

Please contact us to discuss those services to help you and your business. Or Click Here to learn more about us.

Overview of the SECURE Act

5/8/2020

Overview of the SECURE Act - Individuals

~ Author - Nathan R. Musser, CPA, Deluzio & Company, Tax Supervisor ~

Retirement Piggy Bank

The President signed the Further Consolidated Appropriations Act, 2020 on December 20, 2019.  The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE) (Division O of the Further Consolidated Appropriations Act, 2020), makes major changes for 401(k) plans and IRAs.  The highlights of retirement changes for individuals include:

IRA Changes

  • Moves the start date for required minimum distributions (RMDs) to the year in which the owner turns 72
  • Ends the 70½ age limit for contributions to an IRA
  • Shortens the distribution period for non-spouse inherited IRAs to a 10-year maximum

401(k) Changes

  • Requires plans to offer participation to long-term, part-time employees
  • Permits plans to adopt qualified birth or adoption distributions
  • Streamlines the safe harbor for employer non-elective contributions (the amount employer contributes regardless of employee’s contributions)

Other Changes for Individuals

  • Permits qualified birth or adoption distributions up to $5,000 exempt from the early-withdrawal penalty
  • Includes the following as compensation for purposes of retirement plan contributions
    • Taxable non-tuition fellowships and stipends (amounts received as payments for teaching, research, or other services required as condition for receiving scholarships)
    • Nontaxable “difficulty of care payments” earned by home healthcare workers (those who provide care to an individual who has a physical, mental or emotional handicap)

These provisions under the SECURE Act can have a significant impact on your tax liability and require proper planning. Please call our office to discuss these changes to retirement options and how they may affect your tax situation.