by cpaadmin | Nov 19, 2021 | 401k Audit Firm, Auditor, Employee Addition
Kimberly R. Townsend Kim earned a Bachelor of Science degree from Madonna University in 2005. Then, after working as a corporate financial consultant for four years, returned to school to focus on accounting and earned a second degree in business administration with a...
by cpaadmin | Nov 15, 2021 | 401k Audit Firm, 401k Compliance, 401k Plan Audit, Audit Insights
There are many benefits to having a 401(k) plan for your employees, such as retirement savings for your team, reduced taxes on wages, and reduced taxes for the employer, to name a few. However, there are responsibilities as well, and the employer carries the...
by cpaadmin | Oct 15, 2021 | 401k Plan Audit, Uncategorized
Do you know the real cost of your plan? 401(k) plans are attractive to employers for retaining and recruiting employees, but all 401(k) plans come with a price. No surprise, right? Yet, costs shouldn’t prevent you from offering this benefit to your employees, just try...
by cpaadmin | Sep 15, 2021 | Retirement Plan, Uncategorized
Establishing a 401(k) retirement plan is simple. After all, you just have to choose vendors, draft legally sound documents, operate the plan, and stay in compliance. No big deal, right? Actually… not so much. Setting up a 401(k) plan involves many moving pieces...
by cpaadmin | Aug 18, 2021 | 401k Audit Firm, 401k Compliance Error, 401k Plan Audit, 401k Plan Audit Documentation, Audit Procedures, Eligible compensation discrepancies, Employee Corrective Contribution
It happens… you’ve performed your audit and discovered some discrepancies. If you’ve ever found yourself in this position, you’re definitely not alone. In fact, eligible compensation errors are so common that they’re included in the IRS...
