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Which Is the Right Plan?
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Which of these statements best describes your contribution goals?
1)
We are looking for a one time tax-deduction. Afterwards contributions would be rare if any.
2)
We wish to be able to make discretionary contributions each year based on our profit for that year. An annual per participant contribution limit of up to $46,000 is sufficient for our needs.
3)
We wish to guarantee a benefit for our employees each year. We are able to commit to a required contribution each year to fund the plan. An annual per participant contribution limit of up to $46,000 is sufficient for our needs.
4)
We wish to guarantee a benefit for our employees at retirement. We are able to commit to a required contribution each year to fund the plan. We are interested in contributions greater than $46,000.
To continue click the answer that best describes your business.
Profit Sharing Plans
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New Comparability
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