In a profit sharing plan, forfeitures may be reallocated or used to reduce future employer contributions.

Terms, amounts, and conditions of executive loans can be varied from one executive to another as the employer wishes.

The owner of Sierra Sporting Goods encourages her employees to stay healthy. An employee benefit is an annual membership to the local athletic club. Every year, the store sponsors a mini-triathlon for area sports enthusiasts and awards a $100 bonus to each employee who participates and finishes the mini-triathlon and a $250 bonus to any employee who places in the top three on any race in the mini-triathlon. The health care management tool(s) that Sierra’s owner is using is (are)

Landrum Manufacturing has had several lean years. Recently, however, product demand has increased. Profits have doubled every year for the past three years, primarily due to the efforts of the owner and two key employees. The owner wants to build a case that the recent steep increases in her compensation and the compensation of her two key employees is reasonable. As her financial advisor, you tell her that her best option is to

In order for a publicly held company to receive an income tax deduction for executive compensation, what is the maximum allowable amount of cash compensation paid to a CEO?

Zeta Corporation is using life insurance to provide a $200,000 death benefit to the beneficiary or estate of T. A. Gordon, a key executive. Zeta Corp. expects to be in a 34% tax bracket when the benefit is paid, so a $132,000 policy has been purchased on Gordon’s life. Zeta Corp. is the owner and beneficiary of the policy and pays the premiums. When Gordon dies, which of the following is true?

Fiduciaries cannot delegate fiduciary responsibilities and, in turn, avoid direct responsibility for performing the duty.

Bill Brown, age 51, is planning to retire in 5 years and withdraw funds from his tax deferred annuity. Bill can make this withdrawal, but he must pay a 10% penalty for early withdrawal.

The IRS has limited corporate deductions for payments under golden parachute arrangements; however, these limits do not apply to a closely held corporation.

Which of the following is (are) true regarding retroactive amendments?