Compliance testing is a crucial annual responsibility for 401(k) plan sponsors, mandated by the Internal Revenue Service (IRS). It ensures that a company’s 401(k) plan remains equitable, not favoring owners and highly compensated employees (HCEs), and stays within IRS-prescribed limits. For employers offering 401(k) retirement plans, comprehending these tests is
Define the investment objectives: The first step in drafting an IPS is to define the investment objectives. This involves assessing the risk tolerance of the trust or family office and determining the desired return. Establish the asset allocation: Once the investment objectives are defined, the asset allocation strategy can be
Q: I was wondering if manufactured homes can be considered like-kind property for tax purposes under IRC Section 1031. A: It turns out that the classification of manufactured homes depends on whether they are classified as real property or personal property. If a manufactured home is permanently affixed to land
