A Qualified Plan

timer Asked: Jul 3rd, 2018
account_balance_wallet $10

Question description

At least 200 words for this and references if outside reources are used.

In regards to a qualified plan, discuss the tax implications to the employer, and the tax implications to the employee, of the following three situations:

(1) The employer makes a qualified plan contribution.

(2) The qualified plan trust earns investment income or capital gains.

(3) Retirement distributions are made to a qualified plan participant.

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Tutor Answer

School: Duke University


Running head: QUALIFIED PLAN


Qualified Plan



1. A qualified plan is established to give employees within a company a tax break. If
the plan allows the employees to save their salary through deferment for the future,
then the scheme reduces the current income of the employee. This means that in
overall, it reduces the taxable income. The employer, therefore, is able to get and
retain the best employees.
2. A trustee only pays all taxes of the income generated from the trust on the basis of
the type of income....

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