Defined benefit plans in the big picture
By: Collado, Marianela [author]
Language: English Copyright date: 2018 In: Journal of Accountancy Feb 2018, Vol. 225 Issue 2, pages 60 - 66Summary: The article focuses on a true story of taxpayer client, Stanley, age 68, explaining the advantages of a defined benefit plan. It states that, the current plan allowed Stanley to defer the maximum of 24,000 dollars and a profit-sharing contribution of 35,000 dollars for himself and yielded a total tax savings of approximately 37,000 dollars. It analyzes a decrease in Satnley's combined federal and state income tax liability with the addition of a defined benefit plan| Item type | Current location | Home library | Call number | Status | Date due | Barcode | Item holds |
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The article focuses on a true story of taxpayer client, Stanley, age 68, explaining the advantages of a defined benefit plan. It states that, the current plan allowed Stanley to defer the maximum of 24,000 dollars and a profit-sharing contribution of 35,000 dollars for himself and yielded a total tax savings of approximately 37,000 dollars. It analyzes a decrease in Satnley's combined federal and state income tax liability with the addition of a defined benefit plan
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