A recent study shed light on how spending patterns, not just savings, can impact plan participants savings. Revealed here are commentaries on the implications of the research findings.
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A recent study sheds light on why savings alone may not provide the full financial picture when it comes to retirement savings rates among participants with similar incomes. The implications of the research findings for plan sponsors will be explored here in the second article of our two-part series.
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“…Through their efforts and dedication, our professional staff have made this achievement possible,” said James R. Dobberstein, Managing Principal at SLD.
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Shea Labagh Dobberstein is proud to be among IPA’s Top 200 group of firms.
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Why do participants with similar incomes have different retirement savings rates? A recent study sheds light on why savings alone may not provide the full financial picture.
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A spotlight on Andrew Kim, CPA, Audit Manager at Shea Labagh Dobberstein, as published in the firm’s May 2020 Employee Benefit Plans newsletter.
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What’s next for retirement plans? Future plan characteristics are likely to include plan consolidation, hyper-customization, and retirement income solutions.
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The SECURE Act is the first comprehensive legislation effecting retirement plans in over a decade. Plan sponsors should start assessing the consequences of the Act now, especially as many provisions are effective in 2020.
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SLD has formed a new Financial Advisory Services (FAS) practice focused on providing accounting and analysis to companies in turnaround, workout or transition.
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Plan sponsors should be aware of three provisions that impact 401(k) plans, following the recent passage of the $2 trillion coronavirus-relief legislation.
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A spotlight on Yvonne Wu, CPA, Audit Manager at Shea Labagh Dobberstein, as published in the firm’s January 2020 Employee Benefit Plans newsletter.
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Should plan sponsors have concerns about offering TDFs in the plan investment menu despite their popularity? The short answer is “yes.” TDFs can increase a plan sponsor’s fiduciary liability.
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Despite the popularity of target date funds, should sponsors have concerns about offering them in the plan investment menu? The […]
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The IRS issued a final rule in September 2019 that not only makes it easier for participants to take a hardship withdrawal, but eases the plan sponsor requirements.
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“This speaks to the high caliber of work our experienced professionals consistently exhibit, as well as the firm’s ceaseless commitment to helping our clients attain their goals.”
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We have compiled a list of action items for individuals and businesses that may help you save tax dollars.
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Shea Labagh Dobberstein is proud to be among IPA’s Top 200 group of firms.
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Shea Labagh Dobberstein is proud to be part of the Bay Area’s history as it marks its 75th year in business in 2019.
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A spotlight on Tina Lin, CPA, Audit Manager at Shea Labagh Dobberstein, as published in the firm’s May 2019 Employee Benefit Plans newsletter.
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There is concern that fiduciaries are not sufficiently educated about their basic responsibilities, especially their administrative oversight duties. Is your […]
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Two proposed bills could bring new opportunities for plan sponsors and participants. Key objectives of the bills include increasing coverage and savings, reducing the cost and administrative burden for plan sponsors, and facilitating lifetime income options.
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There is concern that fiduciaries are not sufficiently educated about their basic responsibilities, especially their administrative oversight duties. Does your plan committee need training?
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SLD is pleased to announce that effective January 01, 2019, Linda Spain de Bruin, MBA, has been named a Principal of the firm.
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Many small businesses don’t have a solid grasp of their retirement plan fees, according to a survey conducted by The […]
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The IRS recently announced the 2019 cost-of-living adjustments for a host of retirement plan limits.
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Limited knowledge of retirement plan fees can be detrimental to workers’ retirement savings, as well as to managers and owners who serve as fiduciaries to the plan.
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What are the fundamentals of ‘good process’ for 401(k) plans? This is discussed and should be of interest to all plan sponsors.
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We have compiled a list of action items for individuals and businesses that may help you save tax dollars.
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SLD has expanded its tax practice in the Bay Area by merging in A. L. Nella, a long-time San Francisco-based tax firm, effective November 1st.
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Shea Labagh Dobberstein repeats as Best of the Best award winner for 2018. Streak runs to four years in a row.
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The firm has taken the entire 32nd floor of the 43-story landmark high-rise in the heart of the Financial District.
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A recent Supreme Court ruling broadened the reach of states to impose sales and use tax obligations on remote sellers (including online and catalogue retailers) by putting an end to the physical presence test for establishing nexus for sales and use tax purposes.
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Target-Date Funds are typically managed to achieve a large account balance and to minimize the volatility of that balance. However, […]
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BlackRock’s 2018 Defined Contribution Pulse Survey highlights a growing concern among plan sponsors that their employees may have to delay retirement due to saving shortfalls.
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TDFs aren’t always managed in a way conducive to achieving a predictable, stable income stream in retirement. It may be worth considering an innovative TDF offering from Dimensional Fund Advisors (DFA).
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SLD’s new Walnut Creek branch will accommodate the Firm’s growth, providing a stronger local presence in the vital 680 Corridor, and new accessibility for the Firm’s clients and staff.
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The tax and accounting practice of Engelman Accountancy Corporation has joined Shea Labagh Dobberstein, effective January 1, 2018.
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Target-Date Funds (TDFs) have become the Qualified Default Investment Alternative (QDIA) of choice for most 401(k) plans. Read more about the positive impact that TDFs have had for participants, plan sponsors and DC plans in general…
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Do you think the current 401(k) system is working? Do you think more data and analysis is necessary to inform […]
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Target-Date Funds (TDFs) have become the Qualified Default Investment Alternative (QDIA) of choice for most 401(k) plans. Read more about the positive impact that TDFs have had for participants, plan sponsors and DC plans in general…
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SLD COR2E ACCOUNTING SOLUTIONS provide end-to-end accounting services, from processing daily transactions to year-end tax and audit preparations.
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“Our team here has worked hard to ensure our clients are served with the most talented, responsive and consistent accounting and advisory services possible,” said James R. Dobberstein, Managing Principal at SLD.
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SLD was one of the top 25 fundraisers for the 2017 Walk to End Alzheimer’s® in San Francisco as it celebrated its 25th Anniversary! Together, we raised over $5,000 to support Alzheimer’s care, support and research.
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What did our clients have to say? Watch SLD’s newest video to listen in and find out!
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SLD has again been named an IPA 200 Firm and has received the distinction of a 2017 IPA 200 Fastest-Growing Organic Growth Firm. “…The expertise of the SLD team and our dedication to meeting the needs of our clients has led to this achievement…” said James Dobberstein.
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Shea Labagh Dobberstein named DFK International Firm of the Year 2017.
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If you’re not an accountant, it’s time to stop struggling with issues and concepts that aren’t a part of your core business. Working with an expert on an outsourced basis can not only make your life easier, but bring visible improvements to your business.
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Learn about how the professionals of tomorrow are learning in the classroom. “It’s a long way from blackboards and chalk.”
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Did you know that many businesses fail to remove assets that have long since been disposed of or sold from their reportable base, and are unnecessarily paying taxes?
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Employees depend on plan sponsors to manage the plan in the best interest of all participants. A poorly designed investment menu can cripple participant outcomes and investment performance. Behavioral finance research suggests that participants are overwhelmed when offered too many investment options. The negative impacts of this are discussed on Page 3.
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Plan sponsors plan to have an elevated focus on employee financial wellness in 2017. Do you know that plan initiatives don’t need to be large and costly to make a big impact? Here’s why…
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A poorly designed investment menu can cripple participant outcomes and investment performance. Behavioral finance research suggests that participants are overwhelmed when offered too many investment options.
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We’re continuing to recruit the best talent in the industry. Meet our team in this short video!
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Over the past several months, Congress and the IRS promulgated tax provisions, extending tax savings opportunities that benefit real property owners and clarifying new rules regarding the Foreign Investment Real Property Tax Act (“FIRPTA”). Some of these provisions allow taxpayers to accelerate deductions or claim tax credits. In this newsletter, you will learn about some of the provisions affecting real property, as well as recent trends in multi-family housing within the San Francisco Bay Area.
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A summary of some of the recent provisions affecting real property.
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Doors are open to you at Shea Labagh Dobberstein. To find out more, and get to know the firm’s culture and number one asset – its exceptional people – watch our recruiting video.
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Shea Labagh Dobberstein is pleased to announce that three of its directors have been promoted to principals: Marc Armstrong, CPA, CFA, MBT; Liza T. Belale, CPA; and Chika Shimada, CPA.
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Currently, the proposals outlined by both the President-Elect and House Republicans “simplify” the personal income tax code. Key policy proposals […]
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What’s fueling this nationwide trend? Both millennials and empty nesters from the baby boomer generation. While age may be the […]
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Get up to speed with a first look at some of the likely tax impacts from the 2016 election… Special report now available!
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Over 100 attendees gained insight into the upcoming local real estate and national economy, and how it will be moved by the results of the upcoming general election from leading economist, Tim McGee.
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Every pivotal change in the modus operandi of producing goods has created a similar effect- Resulting in what most of […]
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In this newsletter, discover the top three strategies that yield sales tax savings, and how significant savings can often be achieved by a simple inventory of assets.
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Key Candidate Positions on Tax Policy : Democratic Candidate Hillary Clinton According to the Tax Policy Center, Hillary Clinton’s […]
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Discover top three strategies that yield sales tax savings for restaurants.
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Getting taxed on your capital gains is a part of life, but a 1031 Tax Deferred Exchange can help you […]
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For a consecutive year, SLD has been named a ‘Best of the Best’ firm by IPA, a leading accounting trade publication.
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SLD has been named an INSIDE Public Accounting (IPA) 200 Firm for 2016 for another year in a row, moving up 15 spots from the 2015 ranking.
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Internal controls can help minimize risk and reduce the likelihood of fraudulent activities taking place. Fraud is a prevalent issue […]
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Many will remember the extreme overreaction that Congress undertook with the 1986 Tax Act. ACRS was replaced with MACRS and, […]
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Recent IRS guidance clarifies opportunity for the deferral of gift card income.
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The real estate industry in the Bay Area continues its upward trend—although there is talk about a plateau being reached or at least being in sight. The increase in construction activity and valuations have been very strong. Only time will tell if the future holds a correction or merely a pause in the upward trajectory.
The main focus of this issue will be on depreciation. On Page 2, we discuss depreciation in the context of cost segregation—from the §1031 exchange vantage point and from a “repair vs. capitalize” vantage point. On Page 3, we explain the newly enacted PATH Act provisions as they affect the real estate industry. In combination, these articles explore the intersection of bonus depreciation with cost segregation and like-kind exchange (an exercise in three-dimensional chess).
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Lately, litigation has been initiated against plan sponsors or providers of large plans. A recent lawsuit brings to light the disturbing fact that even sponsors of small- and mid-sized 401(k) plans are now at risk.
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A spotlight on Michael A. Stephens, CPA, MBA, Senior Audit Manager at Shea Labagh Dobberstein, as published in the firm’s July 2016 Employee Benefit Plans newsletter.
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In previous articles, we have discussed the positive impact that 401(k) plan design features such as auto enrollment and auto escalation have had on both participation and savings rates. A less well-known and relatively new feature, auto portability, is the subject of this article. This feature not only makes it easy for both employees and plan sponsors to move retirement account balances when they change jobs, but can help increase overall retirement savings. Turn to Page 3 for more information about the potential of this feature and why you should be aware of it.
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Auto portability not only makes it easy for both employees and plan sponsors to move retirement account balances when they change jobs, but can help increase overall retirement savings.
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A spotlight on Nancy A. Ferrell, CPA, Principal at Shea Labagh Dobberstein, as published in the firm’s July 2016 Real Estate newsletter.
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A discussion of depreciation in the context of cost segregation—from the §1031 exchange vantage point and from a “repair vs. capitalize” vantage point.
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Do you know that under Section 179D of the international revenue code, taxpayers are allowed to expense up to $1.80 per square foot of the cost of improvements that increase energy efficiency?
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Welcome to the first issue of SLD’s Real Estate newsletter providing important news and advice for real estate professionals.
In today’s challenging economy, where real estate holdings are subject to shifting dynamics in the market, SLD’s real estate experts can provide clients peace of mind and stability.
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Here are four basic ‘tips’ industry professionals need to know: The Tip Tax Credit. You can receive a tax credit on your […]
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Steps plan sponsors can take to help guard against potential litigation as even smaller plans are now at risk.
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While matching contributions provide added incentive for employees to participate in a defined contribution (DC) plan, tailoring employer contributions can help maximize participant contribution rates. For instance, plan sponsors may want to reduce the matching percentage and increase the cap to see if the savings rate would increase without negatively impacting the participation rate.
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A spotlight on Chika Shimada, CPA, Director at Shea Labagh Dobberstein, as published in the firm’s March 2016 Employee Benefit Plans newsletter.
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Our last two newsletters featured articles about two common “auto” features used by defined contribution (DC) plans to improve participation and savings rates. Numerous studies have documented the positive impact these features have had. Beyond such auto features, there are a number of other practices that should be explored to help drive successful retirement outcomes. A plan’s approach to employer contributions, for instance, can be designed to maximize the employee’s contributions. Turn to Page 3 for a discussion of how this could be accomplished.
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This change will significantly decrease the after-tax cash flow cost of leasehold improvements and should provide a boost for all aspects of the real estate industry – from development through design, construction and occupancy.
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Numerous studies have found that in order to accrue adequate money to achieve a secure retirement, the average plan participant needs to contribute between 10–15% of their annual salary. Considering that default contribution rates for plans utilizing automatic enrollment are generally in the 3% to 6% range, it is a marked gap, and one that plan sponsors can help remedy.
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Over the past thirty-plus years, defined contribution (DC) plans have become the primary means for the average worker to accumulate wealth to provide for a financially secure retirement. With longer life expectancies and increased health care costs, it is more important than ever for employees to adequately save for retirement. Accordingly, it is crucial that employees effectively utilize DC plans to achieve this objective. Unfortunately, several surveys and studies have concluded that this may not be happening.
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A spotlight on Liza T. Belale, CPA, Director at Shea Labagh Dobberstein, as published in the firm’s January 2016 Employee Benefit Plans newsletter.
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According to a U.S. Department of Labor Employee Benefits Security Administration (EBSA) Report issued May 2015, 39% of 400 audits reviewed by EBSA contained major deficiencies. This latest report indicates that the quality of employee benefit plan audits has not improved, but has, in fact, been worsening over previous studies.
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A ruling by the Supreme Court in the case Tibble vs. Edison International last month makes it clear that plan sponsors have an ongoing fiduciary duty to monitor the investments in 401(k) plans. Although the Supreme Court decision was narrowly focused on the statute of limitations issue, there are broader implications that plan sponsors will need to consider.
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Businesses seeking to maximize tax benefits through 2015 year-end tax planning may want to consider several general strategies, such as use of traditional timing techniques for income and deductions, and the role of the tax extenders which were just renewed over the weekend.
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By: Ryan Svoboda | November 2015 Every year, a somewhat unknown group by the name of the National Taxpayer Advocate (NTA) provides […]
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By: Adam P. Buttery | October 2015 For 401k plans, the number of participants in the plan at the beginning […]
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Shea Labagh Dobberstein appoints Bill Wright to expand Advisory practice July 2014 Bill Wright, an experienced ‘private-company’ mergers and acquisitions […]
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Shea Labagh Dobberstein, a leading CPA firm in the Bay Area, has been named to INSIDE Public Accounting’s (IPA) Best of the Best firms list for 2015. Of over 500 firms that participated across the country, only 60 were awarded this designation for their strong financial and operational performance.
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The following is related to the subject of foreign bank accounts and other offshore assets. As you may know, the […]
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The firm is pleased to announce the promotion of Yvonne Wu to Audit Senior Staff Accountant. Yvonne joined SLD nearly three years ago and has been a key Audit Staff Accountant providing outstanding service to our clients. This experience, in conjunction with her overall strong skill set, will enable her to take on the greater leadership responsibilities of an Audit Senior Staff Accountant.
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The California Board of Equalization has held that a “Swap and Drop” transaction has qualified for tax-deferred treatment under Section 1031. This decision counters the Franchise Tax Board’s longstanding view that such transactions preclude taxpayers from the requisite holding of the replacement property for use in a trade or business. While not precedential, the ruling should provide some comfort to real estate investors engaging in these types of transactions.
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Why is audit quality important? Audit quality is important because the Department of Labor can assess a potential civil penalty of up to $50,000 for an audit that it rejects as being deficient. The assessment is made against the plan administrator, not the plan auditor.
Written by: Adam Buttery, Director – Accounting and Auditing Services
Read MoreThe United States manufacturing industry’s employment levels peaked in the late 1970’s; however, since that time period off shoring of jobs has dominated and the manufacturing industry and employment levels as a whole have declined. In the past few years, though, there has been a significant move to “Re‐Shore” jobs within the manufacturing industry. We’re finding that some of the main reasons companies initially chose to offshore their production process are the same reasons why companies are bringing these jobs back to the United States.
Written By: Adam Buttery, Director – Accounting and Auditing Services
(with Tax input by Karen Souza, Director – Tax Services)
Recommended reading for benefit plan sponsors which highlights the challenges individuals face in their attempt to achieve a secure retirement.
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Welcome to the first issue of SLD’s Employee Benefit Plan newsletter providing important news and advice for benefit plan sponsors.
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A spotlight on Macaire T. Kilkenny, CPA, Manager at Shea Labagh Dobberstein, as published in the firm’s August 2015 Employee Benefit Plans newsletter.
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A summary of the main choices made by DC plan participants that negatively impact the participant’s ability to accumulate sufficient retirement savings.
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Automatic enrollment features have proven to be an effective means of increasing plan participation. In addition to helping to improve participant outcomes, the increased participation can help plans comply with the non-discrimination requirements.
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Tax and Audit | Complex ESOP ownership
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Beginning in the 1980s, US corporations began transitioning from traditional defined benefit (DB) to defined contribution (DC) plans (what are more commonly known as “401(k) plans”) as the primary retirement plan offered to their employees. This transition shifted the primary responsibility for an employee’s retirement readiness from the employer to the employee.
Many have suggested that this transition has had a negative impact on the US retirement system. To determine if this claim is valid or not requires a look at whether DC plans are effective in helping employees accumulate enough to enjoy a financially secure retirement.
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Learn about significant recent federal tax developments that may impact you.
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So what’s driving today’s appetite for real estate risk in the apartment sector in particular? We think it is principally […]
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