PATA
Jul 23 2004, 10:15 PM
Any reason why an employer, who hires one part time EE to perform bookeeping with annual hours less than 1000, can't have a profit sharing plan and only cover himself?
WDIK
Jul 26 2004, 03:19 PM
I believe Internal Revenue Code Section 410(b)(4) provides the basis for what you describe. Also see Form 5500-EZ and instructions, particularly for item 14.