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But I hired you to audit THIS year…
Posted by Maria T. Hurd, CPA Following in his father’s footsteps, Art Vandelay has worked hard to expand the reach of his pizza chain across the whole state of Delaware. His innovative idea of “making...
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I don’t want to grow up, I want to be a small plan!
Posted by Stacey Snyder Practitioners in the retirement plan industry are well aware of the fact that most small plans don’t have to undergo an audit by an independent qualified public accountant,...
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Information Request Letters
Posted by Chris Ciminera The employee benefit plan audit season is in full gear now and, if not already started, your employee benefit plan audit is most likely around the corner. At our firm that...
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Retirement Plans – The Basics are Actually Quite Complicated
Posted by Casey Foulk Occasionally, a tax client of our firm wants to set up a retirement plan. For a small employer with limited accounting and human resources personnel, the numerous options and...
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A Deadline and a Lifeline
Posted by Maria T. Hurd, CPA Most people are familiar with the significance of April 15th as the day we all pay our fair share to Uncle Sam on Form 1040. July 31st is the equivalent of Tax Day for...
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IN or AND…What a difference a word makes
Posted by Maria T. Hurd, CPA In the world of qualified plans, an employee must be given credit for a ‘year of service’ for any ‘computation period’ during which the employee is credited with ’1,000...
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Moving the Goal Posts of Humaneness
Posted by Saaib Uppal In one of our previous blogs Mind Watching My Stuff for a Minute?, we discussed how to go about finding a participant who is unresponsive to communications from the plan sponsor....
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Playing it Safe with Rollovers of Mandatory Distributions
Posted by Saaib Uppal In our previous blog entry Moving the Goal Posts of Humaneness, we discussed the IRS’s discontinuance of their Letter-Forwarding Service for “locating a missing taxpayer who may...
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Will You Hit or Miss the Target?
Posted by Saaib Uppal, CPA Having a target in mind is always a helpful approach when attempting to guide oneself towards a particular finish line. Whether it is a project around the house, a personal...
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With Change Comes More Change! – Form 5558
Posted by Stacey Snyder When the Department of Labor (DOL) made filing changes for Form 5500, it resulted in the revision of Form 8955-SSA. The revision also required that the form must now be filed...
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Important 2013 Benefit Plan Deadline Timeframes
Posted by Christopher J. Ciminera We are closing in on the New Year and just in time to help you meet your New Year’s resolution to meet all your deadlines, attached is a list of important dates in...
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From Choo Choo Trains to Required Minimum Distributions
Posted by Saaib Uppal, CPA Think back to your early childhood when your parents would try to get you to open your mouth and take in a spoonful of food. “Choo! Choo! Here comes the train!” That might be...
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How Does the American Taxpayer Relief Act affect Retirement Plans?
Posted by Maria T. Hurd, CPA Contrary to the retirement plan industry’s fears, the American Taxpayer Relief Act of 2012 (Act) did not reduce the contribution or compensation limits for retirement...
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How Does the American Taxpayer Relief Act affect Retirement Plans?
Posted by Maria T. Hurd, CPA Contrary to the retirement plan industry’s fears, the American Taxpayer Relief Act of 2012 (Act) did not reduce the contribution or compensation limits for retirement...
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Three Strikes and You’re Out (of money!)
Posted by Kathy Dean-Bradley, CPA Similar to ‘three strikes and you’re out’ in baseball, there is little opportunity in life to get multiple chances for a pardon. So when it happens in the Internal...
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Compensation: The Missing Link – Part 1
Posted by Chris Ciminera Compensation, you might think, should be easy to quantify. However, in a retirement plan, determining compensation can actually be quite complex. Not only can plan sponsors...
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Compensation: The Missing Link – Part 2
Posted by Chris Ciminera My previous blog, Compensation: The Missing Link – Part 1, stressed the importance of ascertaining a solid link between the definition of compensation in the plan document and...
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A Primer on Forms of Distribution – Questions from Younger Family Members
Posted by Chris Ciminera I grew up in a small family, but my sister and I enjoy a large extended family that always gathers for every celebration, large or small. Being an accountant at these...
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A Primer on Forms of Distribution – Questions from Those Approaching or At...
Posted by Chris Ciminera In my previous blog, I discussed how my young cousin Mike was eligible for a hardship distribution or a terminating distribution, and that he would not be able to avoid the...
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A Primer on Forms of Distribution – Questions at Funerals
Posted by Chris Ciminera In my previous two blogs, I discussed qualified plan distribution options for my cousin Mike who is my contemporary, and my Aunt Mary, a Baby Boomer. Both had asked me...
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