taxationall answers from a taxation qualified employee benefit plan perspective 327065

All Answers from a Taxation Qualified Employee Benefit Plan Perspective! What is a highly compensated employee? What effect does a highly compensated employee have on the minimum vesting requirement? What is the maximum amount that a self employed individual can contribute to a Keogh plan in 2011? 2012? 2013? When can a Keogh plan include a 401 (k) plan? Minimum coverage tests – what are the two alternative tests to comply with the minimum coverage requirements? Explain one of these minimum coverage tests in detail. What is permitted disparity? What is a top heavy plan? Describe in detail the process to get a plan qualified for I.R.S. purposes. Write a memorandum to Sam Tangy explaining the benefits of a qualified plan to him and his company, Tangy Corporation. This should be in the form of a well written fax memorandum. Income is always taxable. True or false. Explain with examples and citation. Based on your answer in # 1, compensation is always taxable as income. True or false. Explain with examples and citations. Payments by privately held companies are always deductible as compensation. True or false. Explain with examples and citations. Payments to an individual from a publicly held company in excess of $1,000,000 are not taxable to the employee. True or false. Explain. Give ten examples of fringe benefits and discuss the rules regarding the deductibility to the company and taxability to the employee. Are attorney’s fees included in the gross income of the injured party? Explain. What recent development may impact the tax treatment of damages received for certain non physical personal injuries? With respect to stock options, define these terms: a) Grant date b) Strike price c) Exercise date d) Spread e) Vesting f) Vested options g) In the money What methods are used to funk NQSO’s? What are the requirements for an option to qualify as an ISO? What is a section…