401(K) plan

A 401(k) plan is a retirement savings account sponsored by an employer. It lets workers save and invest a portion of their paycheck before taxes. These funds are invested in stocks, bonds or mutual funds.The employer may match the employee’s contribution up to a limit.

Some of the benefits of having a 401k are employer match (in some cases), you get tax breaks and shelter from creditors.

For tax breaks, an example is you don’t pay taxes until you withdraw it when you retire (59.5 years old). Also your savings grow tax deferred, meaning your money grows tax free as long as you stay in that plan, and that will allow your earnings to compound.

The meaning of shelter from creditors is you don’t have to worry about them because your plan is protected by the Employee Retirement Income Security Act of 1974 (ERISA).

Contact us if you need an audit on your 401k plan.

We provide audit service on your 401k plan to be in compliance with DOL guidelines and IRS. Let us answer any questions you have on this.

Greg Wilson & Associates CPAs

Testimonials

    Mike G.Tye S.Ryan W.Leigh T.
  • Wilson & Associates is where i go to for all personal and business needs. Thank You!!
    Mike G.
  • I highly recommend Greg Wilson for any accounting or business needs. I have used Greg's services for more than 20 years and found him to be very steady, knowledgeable and professional. In addition, to my complete and happy surprise, Greg found a deduction I was completely unaware of that saved me about $50,000 in taxes!
  • I've been using Greg for years to do my audits for a  HUD apartment complex I own in Arizona.  They've always done a great job.  I would highly recommend Wilson and Associates.
    Tye S.
  • Greg Wilson has been doing my taxes for my small business for years. He is thorough and helps me navigate the difficulties of calculating my taxes. I would recommend him to anyone in need of a CPA.
  • I have been with Greg Wilson and Associates for over 10 years. When I first used their services I was in great need for guidance and structure with my financial path, in which they clearly provided. They have always been available to answer my questions so that I can make informed decisions. Thank you Greg, Ken and Nancy.
    Leigh T.

ACCOUNTING - TAX - ADVISORY - AUDITS