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Which of the following is not true about employee discounts?

The average age of employees at Baker Manufacturing is close to 30, and about two-thirds of current employees have children under age 10 at home. Most of these employees earn relatively low wages. The remaining employees have no dependent care needs. Baker Manufacturing is considering installing a dependent care assistance plan as an employee benefit. The advantages to Baker Manufacturing of doing so include which of the following?

Acorn Booksellers is a small business interested in adopting a qualified retirement plan. The owner of Acorn wants to be able to choose from more than one financial institution when implementing the plan. Acorn’s owner also wants to determine such things as the vesting schedule and the contribution or benefit formula. As a small business, Acorn wants to keep costs down. You recommend that Acorn use

If more than the maximum allowable amount is contributed in any year, an excise tax is imposed on the excess contribution.

Employees who take out a loan from their profit sharing plan must pay 10% of the loan amount as a penalty as well as reasonable interest on the funds borrowed.

To design a good retirement plan, a designer should

A volume submitter plan differs from a prototype because it

Employees can make in-service withdrawals from their 401(k) plans.

S corporation shareholders who own more than 50% of the business and are also employees of the corporation should

Employees of the Design Line, an exclusive women’s clothing store, can purchase clothing from the store at 20% off retail. The owner of Design Line also can offer this employee discount to