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Sometimes owners have to be included and sometimes they do not. A Money Purchase Plan does not have to be offered to every owner, only those who are considered employees as well.
Money Purchase plans are pensions, and pension income is not paid to investors in a business, only employees. Profit Sharing plan contributions must reflect the proportional interest of an owner or employee in the business.
To learn more information about pension benefits, see “How are Pension Benefits Computed?”
For instance, in an LLC Partnership, 30% of the profits contributed to the plan would go to the account of the partner with a 30% ownership interest.
If I Want to Establish a Money Purchase/Profit Sharing Plan, Do I Have to Establish One for All Employees of My Business?
What are Articles of Incorporation?
What are Articles of Partnership?
People tend to focus on the mystery of the ‘get-rich-quick’ stock market when they start asking questions about...
A covered call is when the writer or seller of a call option either owns the underlying security, or has a guarantee
Momentum trading usually involves long positions in a security that has been experiencing an uptrend and high trading
Price to Tangible Book Value serves as a conservative estimation of the value inherent in a share, without intangibles
This rating is the highest non-investment grade category that the ratings agencies will give to a bond...
Cash Flow-to-Debt Ratio compares the size of a company’s cash flow from operations to the size of its debt
Credit counselors can negotiate debt management strategies with lenders on behalf of individuals with debt problems
Market discipline is a term which describes the restraint implicitly required of financial services companies in...
A spin-off is when a division or subsidiary of a company is separated from the parent corporation and starts its own
Despite how it sounds, this publication is not meant for tourists to the US, but rather for non-US-citizen workers