401K AND profit sharing?


S

SCorp

Can a company have a 401k and a profit sharing (Keogh) plan?

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S

Stuart A. Bronstein

SCorp said:
Can a company have a 401k and a profit sharing (Keogh) plan?
I don't know the answer to this specific question, but in
general corporations are allowed to have more than one plan.
Each employee's contributions are aggregated and they have
to be sure that any employee's contributions don't exceed
his individual limit.

Stu

<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>
 

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