Shaun works for ABC Company. His total compensation for 2018 was $400,000. ABC Company has a profit
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Shaun works for ABC Company. His total compensation for 2018 was $400,000. ABC Company has a profit sharing plan with a contribution that is integrated with social security. The integrated profit sharing formula has a base contribution of 5%, uses the current social security taxable wage base as the integrated level, and uses the maximum excess percentage. What is the excess percentage that will be applied to Shaun’s compensation above the integration level?
Related Book For
South Western Federal Taxation Individual Income Taxes 2017
ISBN: 9781305873988
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen
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