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Going Higher Construction sponsors a 401(k)-profit sharing plan. In the current year, Going Higher Construction contributed 25% of each employees' compensation to the profit-sharing plan.
Going Higher Construction sponsors a 401(k)-profit sharing plan. In the current year, Going Higher Construction contributed 25% of each employees' compensation to the profit-sharing plan. The ADP of the 401(k) plan for the NHC was 3.5%. If Kendra, age 57, earns $100,000 and is a 6% owner, what is the maximum amount that she may defer into the 401(k) plan for 2021?
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736
