Cynchbeast Posted September 28, 2020 Posted September 28, 2020 We have a DB plan for a Sole Proprietor. His net Schedule C after FICA deductions but before deduction for contribution was $10,000. The contribution for 2019 was $9,293. Is this okay?
CuseFan Posted September 28, 2020 Posted September 28, 2020 Depends. If there was a compensation history that established a reasonable 415 limit, then yes. Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
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