mlp0816 Posted June 28, 2006 Share Posted June 28, 2006 Can a company who does not currently offer a qualified profit sharing plan, start one now and make a 2005 contribution if they have not yet filed their 2005 corporate taxes? Link to comment Share on other sites More sharing options...
Guest mjb Posted June 28, 2006 Share Posted June 28, 2006 no because a qualified plan must be adopted before the end of the employer's 2005 tax yr, but the employer can adopt a SEP at any date up to the day the 2005 tax return is filed with extension which will provide the same tax deduction as a PS plan and the same max contribution. Link to comment Share on other sites More sharing options...
mlp0816 Posted June 28, 2006 Author Share Posted June 28, 2006 Great...thanks for the help! Link to comment Share on other sites More sharing options...
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