A fellow practitioner asked about the following scenario: A person has a one woman corporation there is a 401K retirement plan. He contributes $22,500 to the plan, the corporation contributes $43,500 for a total of $66,000. The person makes $100,000 in wages. It is an S Corp.
The question that has come up is as follows: Can the company just contribute $66,000 and the employee make no contribution?
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Michael Rubinstein
CPA
Michael D. Rubinstein CPA, PC
North Bellmore NY
516-900-1429
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