This session reviews the impact of closing company financials, tax reporting, and the characterization of deductions as they relate to ESOP administration. Our presenters will provide key metrics service providers can use when working with a client's TPA to determine required and maximum contribution amounts available to the ESOP. We will also discuss timing considerations that arise as the plan year closes. Attendees will leave with guidance for coordinating year end accounting tasks with other service providers.
Learning Objectives
After attending this session, participants will:
• Understand how to accumulate the information required to close financials in relation to ESOP needs.
• Learn how contributions and dividends or S-distributions affect a client's tax filing.
• Gain knowledge of how to best coordinate with a CPA and TPA to provide the highest level of service.
Ryan Beste provides audit and accounting services to a variety of clients, including automotive and implement dealerships, manufacturers, closely-held businesses, agricultural-related businesses, and 401(k) and ESOP plans. He also works extensively with employee owned companies. Ryan's client work includes engagements with large, multi-location organizations as well as consulting to assist with financial reporting.
Brian Zerface specializes in income tax planning and preparation with a variety of clients, including contractors, dealerships, manufacturers and privately held companies. With a goal of helping clients understand their situation and succeed, Brian takes a hands-on approach with their financial and income tax situations.
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