khn Posted June 1, 2024 Posted June 1, 2024 How can the President of a company maximize total contributions to the plan? The plan is safe harbor. There is only 1 other employee who is an NHCE in the plan. He is over 50 so he can defer $30,500 in 2024. Match is 100% up to 6% They have a discretionary profit sharing provision. Roth deferrals are allowed but no after-tax contributions. What is the best way to reach the total annual additions limit of $76,500 for the year?
Bill Presson Posted June 1, 2024 Posted June 1, 2024 Make a profit sharing contribution that passes the a4 tests. Lou S. and Luke Bailey 2 William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
truphao Posted June 1, 2024 Posted June 1, 2024 set up a DB/CB Plan if the Owner is older than his Ee. Luke Bailey 1
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