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I'm not a CPA but my understanding is the number on box 14a of the K-1 is the number that goes on to the Schedule SE for determining SE taxes and as such is "pensionable" earned income. I don't think you need to audit the CPAs work as to how they got there unless that's part of your service agreement.

There was no change in team name. No change in logo. Nope, didn't happen. No. No! There. Reality altered.

The client is correct - you do not have to file 5500-EZ if the assets are below $250,000, even if you filed in the previous year (unless it's the final year of the plan). However, you are inviting a contact from the IRS by not filing. They won't be able to assess any penalties, since the filing was not required. But it's easy to file, so why not go ahead and do it anyway?

A few cautions: If the plan is a governmental plan, check the plan’s documents and State law. If the plan is a church plan, check the plan’s documents. Even if no external law calls for a particular provision, a sponsor might decide that providing for a participant’s spouse (or, at least, not depriving a spouse of an interest without the spouse’s consent) follows the church’s faith. If a plan is neither a governmental plan nor a church plan and the charitable organization believes it is not a plan within the meaning of ERISA’s title I, consider that a disappointed surviving spouse might assert that the plan is an ERISA-governed plan. A Federal court decides a defendant’s motion to dismiss a complaint for failure to state a claim considering only the complaint’s alleged facts, with no opportunity for a defendant to introduce facts. Because of this, a defendant might not persuade a judge that a complaint is so implausible that it asserts no claim. Even if a plan is unquestionably not ERISA-governed, read the annuity contract or custodial-account agreement. In my experience, some older annuity contracts provide a survivor annuity, absent the spouse’s consent, and provide this even if no plan the contract was purchased under imposes such a provision.

Sounds like they need a new CPA. Rental real estate is not considered a trade or business and is not subject to SE Tax.

If the final 1099 form includes the extra 1900, then I think you're fine in showing everything "really" out by 12/31.

No need to mess with reality, you can instead just say you're a really big fan of 'Major League'!!

I think you would account for any such contributions in the current year (year made).

Thanks for the responses - will wait until next year. To Nate, it's the latter.

I'm not an employment lawyer but I'd assume that you would reduced the elective deferral so as not run a negative check for the cycle. That is if the employer elected $200 but there is only $150 after required deduction you withhold the $150 and give him a net $0 check.

Most plans are going to use the W-2 or withholding safe harbor. I would say if it's on the employee's W-2 for 2022 and if it is currently subject to FICA and FITW, you should count it as comp.