Retirement Plan Audits

jones-roth-retirement-plan-auditsOur team performs employee benefit plan audits every year for all types of retirement plans across the Pacific Northwest.

We take our commitment to quality service, cost efficiency, timely communication, and technical expertise seriously. Our client promise is to issue benefit plan audits within 60 days of the information being provided and are willing to guarantee a delivery date in most situations. Serving all regions of Oregon from our offices in Bend, Eugene, and Portland, we provide audits for 401(k), 403(b), ESOP, Defined Benefit, and Health & Welfare plans.

We are a member of the American Institute of Certified Public Accountants Employee Benefit Plan Audit Quality Center. Our clients are as small as 100 participants and as large as 14,000.

Contact us for a no-obligation fee quote for your retirement plan audit and/or a second opinion on your current services.

Read our recent post about Retirement Plan Audits.


Jones & Roth Retirement Plan Audits are lightning fast and stress-free.

“As one of the leading Retirement Plan Audit Firms in the Pacific Northwest, our promise is to deliver high quality work, on time, with efficiency that is cost effective.”

— Evan Dickens, CPA

Retirement Plan Audits Team


Evan Dickens, CPA

Evan Dickens, CPA

Partner and Shareholder

Bio
Jon Newport, CPA

Jon Newport, CPA

Partner and Shareholder

Bio
Mark Reynolds, CPA

Mark Reynolds, CPA

Senior Manager

Bio

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Recent News

Why You Should Boost Your 401(k) Contribution Rate Between Now and Year End

Why You Should Boost Your 401(k) Contribution Rate Between Now and Year End

One important step to both reducing taxes and saving for retirement is to contribute to a tax-advantaged retirement plan. If your employer offers a 401(k) plan, contributing to that is likely your best first step.

If you’re not already contributing the maximum allowed, consider increasing your contribution rate between now and year end. Because of tax-deferred compounding (tax-free in the case of Roth accounts), boosting contributions sooner rather than later can have a significant impact on the size of your nest egg at retirement.

Traditional 401(k)

A traditional 401(k) offers many benefits:

• Contributions are pretax, reducing your modified adjusted gross income (MAGI), which can also help you reduce or avoid exposure to the 3.8% net investment income tax.
• Plan assets can grow tax-deferred — meaning you pay no income tax until you take distributions.
• Your employer may match some or all of your contributions pretax.

For 2017, you can contribute up to $18,000. So if your current contribution rate will leave you short of the limit, try to increase your contribution rate through the end of the year to get as close to that limit as you can afford. Keep in mind that your paycheck will be reduced by less than the dollar amount of the contribution, because the contributions are pre-tax so income tax isn’t withheld.

If you’ll be age 50 or older by December 31, you can also make “catch-up” contributions (up to $6,000 for 2017). So if you didn’t contribute much when you were younger, this may allow you to partially make up for lost time. Even if you did make significant contributions before age 50, catch-up contributions can still be beneficial, allowing you to further leverage the power of tax-deferred compounding.

Roth 401(k)

Employers can include a Roth option in their 401(k) plans. If your plan offers this, you can designate some or all of your contribution as Roth contributions. While such contributions don’t reduce your current MAGI, qualified distributions will be tax-free.

Roth 401(k) contributions may be especially beneficial for higher-income earners, because they don’t have the option to contribute to a Roth IRA. On the other hand, if you expect your tax rate to be lower in retirement, you may be better off sticking with traditional 401(k) contributions.

Finally, keep in mind that any employer matches to Roth 401(k) contributions will be pretax and go into your traditional 401(k) account.

How much and which type

Have questions about how much to contribute or the best mix between traditional and Roth contributions? Contact us. We’d be pleased to discuss the tax and retirement-saving considerations with you.

 

© 2017

2017 OMGMA Conference Recap

2017 OMGMA Conference Recap

Thank you for joining us at the OMGMA fall conference last week. It was one of the best Healthcare conferences our team has attended, with powerful keynote speakers and sessions.  We had a tremendous turn out for our own session, presented by Brian Newton, CPA and Jeremy Prickel, CPA.

It was great to see so many of our clients and congratulations to the winner of our gift basket and our $100 Amazon gift card!

We received excellent feedback from everyone on our upcoming webinar series. We hope you are able to join us at our upcoming healthcare webinar scheduled for this Friday September 22nd.

To register: Healthcare Webinar: Top 7 Strategies for Successful Billing and Collections

We look forward to seeing you at the next conference!

2017 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

2017 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

 

 

October 16

• If a calendar-year C corporation that filed an automatic six-month extension:
o File a 2016 income tax return (Form 1120) and pay any tax, interest and penalties due.
o Make contributions for 2016 to certain employer-sponsored retirement plans.

October 31

• Report income tax withholding and FICA taxes for third quarter 2017 (Form 941) and pay any tax due. (See exception below.)

November 13

• Report income tax withholding and FICA taxes for third quarter 2017 (Form 941), if you deposited on time and in full all of the associated taxes due.

December 15

• If a calendar-year C corporation, pay the fourth installment of 2017 estimated income taxes.

 

© 2017