Author: Anonymous

As Joe Burton’s financial advisor, you’ve encouraged Joe to see a lawyer to finalize his will and to resolve a legal dispute that has arisen over an easement on a lot that Joe owns. Joe tells you that he has a legal services plan at work that provides up to $1,000 in legal service fees per year. Because Joe is friends with the company accountant, he knows that his employer has a “pay-as-you-go” plan. Joe asks you about the tax consequences of using the legal services plan. You tell Joe

The benefit formula of a DBO plan can be

Advantages of defined benefit plans include all of the following, except

Any participant in a Section 457 plan who is over age 50 can take advantage of the 50-or-over catch-up contributions.

Which of the following would not be included in a retirement “fact finder”?

Johannes Broghurt is an engineer with Tackett and Kamp Engineering. Which of the following types of education would be an example of a tax-deductible education expense?

The reasonableness of compensation is evaluated when

Life insurance is advantageous in defined benefit plans because it adds to the limit on deductible contributions.

For a governmental organization, a Section 457 plan can be offered to a group of employees, but not to only a single employee.

Which one of the following IRC sections governs or regulates qualified plans?