The 401(k) Audit CPA Success Show

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “You want to make sure that whoever is doing your audit, knows what they're doing because 401k audits are different than financial statement audits, they have certain quirks to them and your auditor needs to understand that ” - Karen Hil...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “It has been a challenge for me, with making sure I'm tying my numbers back and forth, navigating through our online system. We did use Advance Flow at my old job but it wasn't as detail-oriented as Summit is.” - Chasity Price   The fine...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “A small investment now is definitely worth it, definitely something you would like to talk to your public supervisor about.” - Kim Moore   The finer details in this episode: Cyber security, 401k Plans and the government Importance of cy...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “It is expected to pass in 2021, and the current expectation is that it will become effective 1/1/2022 and that's not far away....What happens when you put forward a bill like this it has an impact on the budget.” - Kim Moore   The finer...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “You wanna find out from them what happens if I do sign with you and I stay for a while and for whatever reason I decide I wanna go somewhere else....what does that process look like? What are you gonna agree to help me with?” - Kim Moor...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “It's not a pleasant situation. The things we are recommending are best practices anyways, you should be doing all those things we talked about not to avoid a lawsuit, but just cause it's the right thing to do and you should care about y...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “Planning as early as possible makes the whole process easier.” - Kim Moore   The finer details in this episode: Why planning your retirement earlier is important Where to start your retirement planning Understanding your needs and what...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “Nearly 1 out of 2 American households have suffered a significant decline in their income in a time when most didn’t have sufficient emergency savings.” - David Ramirez   The finer details in this episode: Thoughts on COVID-19 and how i...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “As the employer, you have a lot of say in what happens to your employees. You hold a lot of control over an individual, and now their retirement is entrusted in you.” - Kim Moore    The finer details in this episode: The difference betw...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “Often employees don’t get into a plan because they don’t know or they are scared. With auto-enrollment, they don’t have to do anything to get into a mixed investment portfolio appropriate to their age.” - Kim Moore    The finer details...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “The audit is driven by the number of eligible participants in the beginning of the year. If that number is over 100, then you will need an audit.” - Kim Moore    The finer details in this episode: Due dates for the 5500 and the extensio...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “We are hearing from CPA firms that their timeframes are being compressed, and that takes away the time they would use to do the 401(k) audits.” - Kim Moore    The finer details in this episode: Updated tax information for 401ks Will the...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “If the plan document says something other than what you do or meant to do, you need to get that amended to make sure your procedures follow the plan document.” - Kim Moore    The finer details in this episode: Common eligibility errors...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “The Department of Labor and the IRS understand that errors happen, which is why they set up the voluntary correction fund.” - Kim Moore    The finer details in this episode: Employee compensation factors that you need to track for the 4...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “Make sure you are paying attention to any communication in regard to the 401k plan.” - Kim Moore    The finer details in this episode: What is the SAS 136 and what you need to know as a sponsor When this new standard goes into effect Wh...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “This is a huge opportunity as a company to help your employees to prepare for retirement.”- Kim Moore    The finer details in this episode: What is the SECURE Act? The timeline moving forward with the new law Statistics and reasons this...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “There are a lot of complexities in what drives the price for audits.”- Kim Moore    The finer details in this episode: The average pricing for a 401K audit and what drives the pricing The difference between a fixed fee audit and a “time...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “The most important thing for you as a sponsor is to make sure you understand your plan.” - Kyle Tanaka   The finer details in this episode: The process you can expect to follow with the auditing firm The information you will have to pro...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  Tweetable: “Make sure you understand the rules. Don’t just fly by the seat of your pants because you can get in a lot of trouble.” - Kim Moore The finer details of this episode When do you need to hire an auditor? Who’s liable for a lous...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  Tweetable: “Don’t just hire the first audit firm you find. Don’t just hire the cheapest audit firm you find. Ask questions about the quality of the work they’re doing.” - Kim Moore The finer details of this episode Jody’s background and...