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Are Plan Sponsor Annual Contributions to Both a WBP and a Qualified Retirement Plan Tax Deductible?

April 26, 2017annual contributions deductible Plan qualified retirement plan sponsor tax wbp

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Are Plan Sponsor Annual Contributions to Both a WBP and a Qualified Retirement Plan Tax Deductible?

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Both are fully tax deductible subject to the IRC §415(c)(2) annual addition limitations, which apply to the combined contribution(s) for key employees, if there is an existing defined contribution qualified plan e.g. 401(k) Profit Sharing.