Comments for Dear Drebit

Comment on Do You Have a Business Pre-nup? by Estate Evaluation

Estate Evaluation — Tue, 31 Jan 2012 11:06:06 +0000

Great post and it’s so true, in any kind of relationship you should be protected.

Comment on How do sales and use tax apply to dental practices? by Cigna Dental Providers

Cigna Dental Providers — Mon, 19 Sep 2011 06:17:29 +0000

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Comment on Less Ohio Tax Centers, No Tax Booklets, But Still Many Resources by 10.07.2011: Kathleen Madigan in Columbus, OH | Outback Concerts « Guide Weblog

Thu, 11 Aug 2011 13:46:06 +0000

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Comment on Determining a Retirement Beneficiary? It Isn’t Always Simple by Paul McEwan, CPA, MT, AIFA(R), Director of Benefit Plan Administration Services

Paul McEwan, CPA, MT, AIFA(R), Director of Benefit Plan Administration Services — Mon, 01 Aug 2011 17:58:18 +0000

That’s a good question.

The answer is – it depends on how Plan A’s plan document reads. However, most plan sponsors only allow current employees to roll their money into the plan. It’s most likely that you would only be eligible to roll over your previous 401(k) plan into your current employer’s plan, or Employer C.

If the fees and fund selection in your current plan aren’t appealing, you may be able to make suggestions for improvement to Employer C’s plan. An outside consultant, such as an accounting professional specializing in benefit plan administration, can also help the plan sponsor determine ways to make the 401(k) plan more attractive to employees through lower fees and broader investment opportunities.

Comment on Determining a Retirement Beneficiary? It Isn’t Always Simple by IRA RMD

IRA RMD — Thu, 28 Jul 2011 01:51:41 +0000

Employer A – job ended in 2005.
Employer B – job ended in 2009.

Now, am with Employer C.

My question is: Can I rollover my 401K from Employer B to Employer A or does it have to be ALWAYS from your previous employer(Employer B) into your current employer’s 401K(Employer C)?

I really like the low fees and fund selection in Employer A’s 401k plan.

Comment on How can accounting standards be improved for privately held businesses? by Shared Hosting

Shared Hosting — Mon, 30 May 2011 09:48:50 +0000

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Comment on Doing Your Own Payroll? Deadline to Reimburse Social Security Overwithholding Nears by Joseph Popp, JD, LLM

Joseph Popp, JD, LLM — Thu, 05 May 2011 18:50:43 +0000

You’ve asked a very good question, Rex. We thought other employers may also be asking this question, so we have posted a new blog today (5/5/2011) explaining the process to make the correction.

Comment on Doing Your Own Payroll? Deadline to Reimburse Social Security Overwithholding Nears by Rex

Rex — Tue, 03 May 2011 14:44:43 +0000

What is the proper procedure for those who over-withheld early on, but failed to make the proper adjustment prior to March 31? How should 1st quarter 941 be filed? Should adjustments be made as soon as possible? Unable to find any help on the govt sites.

Comment on Is your 401K Okay? Tips for managing your company retirement plan by Paul McEwan, CPA, MT, AIFA(R), Director of Benefit Plan Administration Services

Paul McEwan, CPA, MT, AIFA(R), Director of Benefit Plan Administration Services — Tue, 12 Apr 2011 17:27:42 +0000

Thanks for your great comments, Geoffrey. With respect to investments within a 401k plan, the same advice is true for plan fiduciaries, that is, making sure that high quality funds with reasonable expenses are available from which participants can select. As you suggested, most participants are not interested and/or not capable of implementing a disciplined process of allocating their account balance properly. For those participants, model allocation portfolios, target date funds or managed accounts should be made available within the plan. Of course, appropriate selection and monitoring criteria should be followed on any fund offered as an investment alternative in the plan, including these automated allocation funds/options.

Comment on Did the IRS revise the federal tax deadline and date to accept itemized returns? by IRS Tax Extension | Info | e-Filing login links and help.

IRS Tax Extension | Info | e-Filing login links and help. — Wed, 30 Mar 2011 14:01:00 +0000

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