Andy is the sole owner of a small business. He has two full-time employees. To...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Andy is the sole owner of a small business. He has two full-time employees. To prepare for his retirement Andy has established a Keogh plan to which he contributes 15% of his income each year.
Andy's business can deduct this amount on its taxes even if Andy does not allow his two employees to participate in the Keogh plan.
True
False
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
