Solution-What is the most that could be contributed to a

What is the most that could be contributed to a profit

Reference no: EM133037091

Question - Aztec clay distributor is a family owned business that is owned by Alice, Bill, and Chad. Alice and Bill are married and Chad is their 25-year-old son. The employee census information is in the chart below:

Employee	Ownership	Salary
Alice	60%	$340,000
Bill	30%	$210,000
Chad	10%	$80,000
Dave	0%	$180,000
Erin	0%	$140,000
Frank	0%	$50,000
Ginger	0%	$40,000
Haley	0%	$30,000
Irish	0%	$20,000
Jen	0%	$20,000
TOTAL	100%	$1,110,000

Required - What is the most that could be contributed to a profit sharing plan and deducted by Aztec if they established a profit sharing plan?

Reference no: EM133037091

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What is the most that could be contributed to a profit

Reference no: EM133037091

Reference no: EM133037091

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