Description and Definition of 401(k) Plan A 401(k) Plan is a tax deferred savings plan which is authorized by section 401(k) of the Internal Revenue Code. Under Section 401(k) a percentage of your salary is withheld and placed in a savings account or the company's profit-sharing plan. Your […]
Solo 401K Plan Issue You may find information about Solo 401K Plan in this Tax Platform of the American Encyclopedia of Law.
Kiddie Tax means:
the tax liability for children under age 14 on net unearned income (e.g., interest and dividend income) over $1,200 at their custodial parents' highest marginal tax rate. For 2010, this special tax imposes the parents' tax rate on investment income in excess of […]
Gabriella Miller Kids First Research Act Issue You may find information about Gabriella Miller Kids First Research Act in this Tax Platform of the American Encyclopedia of Law.
Keogh Plan means:
a tax-deferred pension account designated for employees of unincorporated businesses or for persons who are self- employed either full or part time. For a defined-contribution Keogh plan, a person may contribute the lesser of $30,000 or 20% of self-employment income. A […]
About Know-how: All undivulged technical information, whether or not capable of being patented, that is necessary for the industrial reproduction of a product or process, i.e. knowing how a product is made or how a particular process works. Payments for know-how may be taxed as royalties in many cas…
About Key Employee: for purposes of qualified retirement plan and cafeteria benefit. plan discrimination rules, an employee who, at any time during the plan year or any of the 4 preceding plan years is: 1. an officer of the employer having an annual compensation greater than $45,000, 2. one of the 1…