IRS approves hybrid s. 457 eligible/ineligible deferred compensation plan
Article Abstract:
An IRS approved IRC section 457 hybrid deferred compensation plan combining arrangements from section 457(b) eligible plans and section 457(f) ineligible plans is discussed. IRS Private Letter Ruling 199916037 concerned elective and nonelective arrangements in a deferred compensation plan benefiting employee physicians. The lack of forfeiture risk and creditors' ability to reach the funds were determining factors.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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IRS approves 100% deduction of health insurance costs for self-employed business owners if the owner's spouse is employed by the business
Article Abstract:
This article describes an IRS Coordinated Issue Paper which states that a full IRC section 162 deduction may be taken for expenses incurred by self-employed persons in providing health and accident insurance to their spouse-employees. The spouses would not include such benefits in their income under sections 105(b) and 106.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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Payment of plan expenses by plan sponsor does not constitute contributions
Article Abstract:
This article concerns the Tax Court's allowance in a 1999 case of the IRC section 162 business expense deduction for litigation costs incurred by an employee benefit plan sponsor in litigation involving the plan. The expenses were not indirect plan contributions under deduction limitation section 404 .
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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