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

 


 


 



 

Offer Deferred Compensation?
Be Careful About Compliance


 

Congress enacted Section 409A of the Internal Revenue Code more than 10 years ago in response to scandals involving Enron and other corporations.

If you offer employees deferred compensation as a benefit, it's critical to stay familiar with Sec. 409A and its many requirements.

Applicable plans

Sec. 409A applies to most nonqualified deferred compensation arrangements, including bonus plans, supplemental executive retirement plans, certain severance pay plans, and equity-based incentive compensation plans such as stock options, stock appreciation rights (SARs) and phantom stock.

The requirements don't apply to qualified retirement plans, such as 401(k) plans. They also don't apply to most welfare benefit plans - for example, vacation, sick leave, compensatory time, disability and death benefit plans.

Main requirements

For covered arrangements, Sec. 409A governs the timing of deferral elections and restricts the ability of participants to alter the form or timing of the payments. The law and regulations in this area are complex, but here's a quick summary of the main requirements:


- Employees must make deferral elections before the beginning of the year in which they earn the compensation being deferred (except for certain performance-based compensation).
 

- Benefits must be paid either: 1) on a specified date, 2) according to a fixed payment schedule, or 3) upon the occurrence of a specified event, such as death, disability, termination of employment, change in ownership or control of the employer, or an unforeseeable emergency.
 

- Sec. 409A prohibits plans under which the CEO or board of directors has discretion over the timing or form of payment of vested benefits.
 

- Once compensation is deferred, payments can be delayed (by five years or more) but not accelerated. Elections to delay benefits (or change the form of payment) must be made at least 12 months in advance.

In addition, employers must maintain written plan documentation that's consistent with Sec. 409A's requirements.

Documentation and operations

It's important to review your deferred compensation arrangement for Sec. 409A compliance regularly. Please call us for help evaluating your plan's documentation and operations. 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