Mar 10
 

 

You should consult a CPA any time you’re planning involves a transfer of assets to a trust or children or involves a 401K, IRA or Pension Plan or other Qualified Funds or deals with tax deferred annuities or accounts. The unexpected tax consequences can be devastating and many times a particular plan would not have been implemented if you had known how much taxes you were going to pay. In most cases we can achieve the same end result with little or no income taxes. Sometimes the income taxes are generated immediately and sometimes it may be years before the devastating tax bill pops up on your child’s tax return which can be a very unpleasant surprise to you and your children.

 


 
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Feb 02
 

 

Please visit hw-cpa.com for more information regarding our retirement plan services, or contact Michael Guzman, QPA, QKA at 831-272-4646 or MichaelG@hw-cpa.com. Video Overview: If you are responsible for the administration of a calendar year retirement plan such as a 401(k), 403(b), 457(b), Defined Benefit or Cash Balance plan, it’s time to provide your Third Party Administrator with census data. It is extremely important that you provide accurate census data to your Third Party Administrator. Inaccurate or incomplete census data could subject your company to serious tax consequences. These include the loss of all plan related tax deductions and taxation of all plan assets. Remember, you must provide census data for all employees who receive compensation from your company, regardless of whether they are participating in the plan or not. This includes all part-time or seasonal employees. However, you do not need to include union employees. In order to meet a plan’s multiple compliance deadlines, census data should be submitted to your Third Party Administrator within 60 days after the end of the plan year. For calendar year plans, this means by the end of February. Hayashi & Wayland Retirement Plan Services provides a comprehensive ‘one stop shop’ for all of your retirement plan needs and serves clients throughout California.

 


 
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Oct 03
 

 

You should consult a CPA any time you’re planning involves a transfer of assets to a trust or children or involves a 401K, IRA or Pension Plan or other Qualified Funds or deals with tax deferred annuities or accounts. The unexpected tax consequences can be devastating and many times a particular plan would not have been implemented if you had known how much taxes you were going to pay. In most cases we can achieve the same end result with little or no income taxes. Sometimes the income taxes are generated immediately and sometimes it may be years before the devastating tax bill pops up on your child’s tax return which can be a very unpleasant surprise to you and your children.
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