Getting audited!

[btammo]

I am getting audited in a week by my insurance company for documentation at the state and federal level.

They want.
Payroll Journals, Fed forms 940 and 941, unemployment reports
Cash disbursements, casual labor, form 1099 and 1096
Cash receipts, Sales tax records
Cert of insurance for subcontractors etc...

Anyone lucky enough to go through this? Not sure what to expect, but oh well. Basically what prompted the audit I believe is to make sure my premium is accurate for workers comp etc.

P.S I use Erie for all my insurance needs.

Thanks

[Dreamaloud1]

Damn! I honestly didn't even know an isurance company would ever audit you in the first place. I'm sure you consented to it in some tiny small print area of the contract.

Best of luck!

[Scott]

have fun, the last time I went through one they doubled my premiums

[Scaper-S2k]

It's not as big of a deal as you think. Our old insurance company use to give us an audit each year. They just want to make sure they are covering you for the correct amount of employees.


Your payroll stuff is no big deal. They just want the 941 copies. Not sure why they need the 940 forms AND your state unemployment forms.


Cash dispursments for casual labor? No worry. Most people wouldn't even keep a record of paying a few hundred bucks to a friend that helped you out at some point to get some extra work done. As long as it's not over $600. (might be $660 now?)


1099 forms? That's likely the main thing they want to see. Are you claiming someone as an independent but they don't have their own ins.? No big deal for the paper work on your end though.

Subcontractor certificates? That sort of goes along with the thing I just mentioned.


If you don't have any independent contractors, the audit will be a breeze because basically all you need is the 941 forms. And honestly, that's all they really should need. They can figure the 940 and the state forms from that if needed.




Don't worry about this at all. It's a very simple thing.

[Scott]

last one I went through took less than 30mins or so and some of that was just chit chat.

[btammo]

Skaper/Scott thanks for the reply.

Deep down I know it shouldnt be a big deal, I just hate the thought of getting audited at any level. I know the purpose is to get the correct premium for the correct coverage.....workers comp specifically. Cant these insurance companies get access to documents from the government rather than audit someone?

If it is 30 minutes and most being chit chat, that would be great. With all of this major flood cleanup going on here we are busy as hell and I hate making time for a silly audit.

Anyone else have flood problems last week? My county is still in a state of Emergency and not open to traffic. Bridges out, roads out, interstates wiped out....flood waters up to the roof lines....its pretty nasty. Places flooded that I never thought were possible to flood.

Brad

[Scaper-S2k]

You should ask them if you can just send them copies of the documents.

[btammo]

You should ask them if you can just send them copies of the documents.

Thought about that but I didnt want them to feel like I was hiding something. I may call them up anyway and ask. Thanks

Brad

[Woody]

Been there done that. Like Scaper said, with me it is a yearly thing. I go through Nationwide for everything, vehicles, homeowners, and business insurance. No big deal. With me the audit is just a few minutes. Lately it has just been a phone call from an independent third party.

Nothing to worry about.

[MASTERMOWER]

I have coverage through SafeCo - I get audited yearly.

[CLS Lawns]

how did it go?


cls