How much can save in taxes

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The annual limitations on contributions to and benefits from qualified plans appearing in § 415 must be written into a qualified plan. Section 404 sets the limits on deductibility applicable to the employer. The limit on the amount deductible under § 404 may have an impact on the amount the employer is willing to contribute. In fact, a defined benefit plan or defined contribution plan is not allowed a deduction for the amount that exceeds the § 415 limitations.

Problem 1: If Amber elects salary deferral treatment for the amount, how much can she save in taxes?

Reference no: EM132774461

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