SMEED CPA, Inc | 201 Sand Creek Road, Suite F | Brentwood, CA 94513 | Phone: 925-634-2344


       



 

 

Michael Uadiale, CPA, ACA, CGMA

SMEED CPA, Inc.

 

Call our Testimonial Hotline & give us your feedback at:

 

800-609-9006 extension 3638

 


 


 



 

Yes, a Benefits Plan Audit Could Happen to You


 

Many business owners worry about an income tax audit. But, if you sponsor an employee benefits plan, the IRS could audit it as well.
 

Here are some common questions that plan administrators and sponsors might ask about plan audits.

Where's the bull's-eye?

The IRS targets plans in one of four ways:

1.As part of a special IRS initiative focusing on a specific issue,
2.On a tip-off,
3.After discovering questionable or unusual items on a plan's return, or
4.By random selection.

The agency says audits aren't merely a game of "gotcha." The purpose is to develop corrective strategies and help plan sponsors execute these strategies.

How can you prepare?

Before a plan audit, the IRS usually requests a list of documents to review. An examiner then visits your office or facilities to conduct the audit.

Like a tax audit, a plan audit is best dealt with in consultation with a benefits expert. Make sure to authorize this person to act on your behalf in writing, using the required IRS form (Form 2848, "Power of Attorney and Declaration of Representative"), and that he or she is licensed to practice before the IRS.

What are auditors looking for?

The IRS typically examines a wide variety of plan operational areas. For starters, it will likely look into whether all eligible employees are properly participating, and whether the plan is properly crediting service and vesting in the plan.

Naturally, contributions and distributions are often investigated closely, too. And the agency may examine whether the plan document and trust meet current tax law, as well as whether you've timely and accurately filed federal returns and reports.

Who can help?

If you receive a notice of an IRS plan audit, please give us a call. We can work with your benefits advisor to gather the necessary documents and help you navigate the process. Call us at 925-634-2344.
 


 

SMEED CPA Adds Financial Services To Help Clients With Investments & Insurance Needs

So often we here at SMEED CPA are asked about financial issues that impact our clients investments and their portfolios. 

We always offered our opinion and suggestions but in order to help our clients actually execute the changes we suggest, SMEED has created a Financial Services division.

 

SMEED Financial Services, Inc. will be able to work with both individual and business clients on their investment portfolios and manage assets on their behalf.

 

SMEED Financial will include Michael Uadiale, ACA, CPA, CGMA; and Pablo Blanco who has recently joined SMEED and comes with over 18 years of financial sales and advising experience with affluent investors.

Watch your inbox and mail boxes for more specific information on services SMEED Financial Services, Inc will make available to you.

 


 

Would You Give Me Your Feedback & Testimonial on Our Hotline?

 

Hello its Michael Uadiale, CPA of SMEED CPA Inc.  Weve just installed a toll-free number that I would like for you to call and tell me how you think we are doing as your CPA firm.

 

Just dial 800-609-9006 extension 3638 and follow the instructions.  If weve done a good job please let me know.  And if we can improve on anything, please mention that too.

 


 

Help Us Be Found on Yelp & Google!

 

Also as we expand our business, we find more and more people are using YELP and Google to look for us by searching Brentwood accountant or Brentwood CPA.

 

When they do this we want to be FOUND on GOOGLE.  One way you can help us is to give us an ONLINE REVIEW on our Google Maps/Places listing --->

or on our YELP local listing below.

 

Just click here to go to our Google Listing for SMEED CPA and click on the YELP link to go there.  Scroll down to the Review area.

 

On either site it may say:  Been here? Rate and review

You will click on the Rate and review link and then log in, then give us a review!

 

You can choose between 1 and 5 STARS and write in what you think about the tax or accounting work we have done for you.

 

It's that simple.  Thank you in advance for your help and cooperation!

 


 

As always you can call our offices if you have any questions about these or any other accounting related issues, at
925-634-2344. 

 

Regards, Michael Uadiale, CPA, ACA, CGMA

Managing Partner, SMEED CPA, Inc.

 
 

 

 

SMEED CPA, Inc | 201 Sand Creek Road, Suite F | Brentwood, CA 94513
The Next Frontier CPA Firm | www.SmeedCPA.com | info@smeedcpa.com
Phone: 925-634-2344 | Fax: 925-634-2346