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Full-Text Articles in Law
Retirement Plans For Self-Employed Individuals, Doris R. Hauth
Retirement Plans For Self-Employed Individuals, Doris R. Hauth
Cleveland State Law Review
The self-employed individual has not yet gained the status of the corporate employee in his ability to defer income, but the Keogh Act, asamended in 1967, does afford him substantial tax savings. The benefits should be thoroughly considered by all who qualify.
Excessive Salaries In A Closely Held Corporation, Donald J. Zinner
Excessive Salaries In A Closely Held Corporation, Donald J. Zinner
Cleveland State Law Review
Excessive salaries paid by a closely held corporation create a constant debate between the "owners" of the entity and the Internal Revenue Service, and with other corporation members. The basic law as to the tax aspects underlying the controversy, in the Internal Revenue Code of 1954, is substantially as follows: The compensation claimed as a deduction must be reasonable in amount, and must be paid purely for services. Distributions of profits under the guise of salaries are not deductible. This crucial issue leads to the question: What does the word reasonable salary mean in the framework of a closely held …
Retirement Plans Limited To Salaried Employees: Tax Advantages And Qualification, Gerrit C. Kuechle
Retirement Plans Limited To Salaried Employees: Tax Advantages And Qualification, Gerrit C. Kuechle
Cleveland State Law Review
Retirement plans are among the most effective tax saving devices available and can be extremely attractive, as will be shown, to the small corporation and the highly compensated employee, especially when it is considered that a properly designed plan can be integrated with Social Security so that larger benefits are provided on the salary in excess of that covered by Social Security than on the salary subject to Social Security.