Posts Tagged ‘401k Plan Compliance’

Big Financial News Grabs Reader Attention In September

Tuesday, October 4th, 2016

lady on computerThere was certainly a lot to think about in September. From tax prep to QuickBooks tips, it looked like you were using this month to brush up on some critical business issues and important financial news. Here were our top five posts for the month of September.

  1. Fall Into Tax Prep … According to the calendar, summer 2016 has officially come to an end. But, fortunately for you, there are a lot of reasons to smile in autumn! All it takes is a little tax prep on your part.
  2. Help The FBI Find A Defense Against Ransomware The FBI recently released a public service announcement urging victims of Ransomware attacks to come forward and report these cyber infections to federal law enforcement. Keep reading to learn more about what the FBI is doing to reduce ransomware attacks.
  3. What Happens if My 401(k) Plan is Out of Compliance with an IRS or DOL Rule? Learn more about the statute of limitations and how you can work to rectify any issues you may have with your business’s retirement plan.
  4. How Can You Track Use Tax in QuickBooks? If you owe use tax for a few separate counties or states, you can set up and use multiple Use Tax Payable accounts in your chart of accounts in QuickBooks. Learn how.
  5.  Late Rollovers May Benefit From New IRS Guidance Did you miss the deadline to rollover your retirement plan or traditional IRA funds due to circumstances beyond your control? In the past, such an issue would have resulted in issues on your tax return and/or an expensive private letter ruling request, culminating in a full-fledged assault on your retirement nest egg. Fortunately, the IRS released new guidance that may eliminate this costly headache by simplifying the way retirement rollovers are managed when they are made outside of the 60-day rollover deadline.

As we make our way into autumn and inch closer to the end of the year, what business and financial questions would you like our experts at Rea & Associates to answer? We’d love to hear from you.

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Why Should You Review Your Retirement Plan Documents Now?

Tuesday, March 4th, 2014

“If it’s not broken, don’t fix it.” A lot of people adhere to this philosophy, but in some cases, a review of how something works is not only helpful, it is required. If a business’s retirement plan seems to be working fine, and there doesn’t appear to be anything out of place, many employers believe there is no reason to review the provisions of the plan. This may be the case for a plan that was recently established, but it is always a good idea to review provisions every few years to ensure the plan is still meeting the goals of both the employer and its’ employees.  (more…)

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