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| FREE NEWS ALERTS A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.
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Tuesday, Dec. 27 Retirement Plans – Profit Sharing, #104Profit sharing, 401(k), and money purchase plans all fall under the heading of defined contribution plans. The contribution is usually a percentage of salary and may be either flexible or fixed from year to year. 1. Profit Sharing A profit sharing plan is funded solely through discretionary employer contributions (in fact, contributions don’t have to bear any relationship to profits). Contribution limits are 25 percent of payroll, limited to no more… Subscribers have free access to the archives. Click here. |
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