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Deduction Limits and Contribution Timing [2019]
Presentor: David Schultz Recorded Date: 4/17/2019 Duration: 60 Min.

Description
This program was recorded during a live presentation given on April 17, 2019 at 12:00PM EST.
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IRS opinions have clarified the rules relating to deduction limits. This Web seminar focuses on deduction limits and timing for defined contribution plans. The speaker examines the limit for a combination of plans. He also answers questions such as:

  • Whose compensation can I count in determining the deduction limit?
  • Under what circumstances must I used prorated limits?
  • What is the combined deduction limit?
  • What plans are subject to the combined deduction limit?
  • What is the penalty for excess contributions?
  • When must an employer deposit contributions?
  • Does it matter if the employer uses cash or accrual accounting?
Prerequisites:

There are no prerequisites or advance preparation for this program. However, the instructor will assume attendees have at least one year of experience.

Level: Overview
Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: After attending this Web seminar, an attendee should be able to:

  1. Determine the employees counted in determining deduction limits
  2. Correctly compute the deduction limit in a variety of situations
  3. Explain the deadline for contributions and the effects of extensions
  4. Complete Form 5330 for excess contributions
  5. Carry forward excess contributions

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