Explain how the features listed below affect the choice of a qualified plan for a small business.
Question:
Explain how the features listed below affect the choice of a qualified plan for a small business.
a. Investment flexibility.
b. Eligible legal entities.
c. Permitted number of employees.
d. Minimal IRS reporting requirements.
e. Flexible IRS deadlines.
f. Plan loans.
g. Discretion regarding employee participation.
h. Rollover eligibility.
i. Allowable contribution and deduction amounts.
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a Investment flexibility Small businesses looking to sponsor a qualified plan need to decide how much freedom they want in investing the plans assets Some plans like 401ks and profitsharing plans offe...View the full answer
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Related Book For 
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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