What About Profit-Sharing Plans?

BY JOHN J. JURCAGO

I was disappointed that the article “ IRAs and 401(k)s: How to Pick the Best Plan ” ( JofA , Mar.05) did not even mention defined contribution/profit-sharing plans. These allow an owner to pick an amount each year and have limits on contributions of up to 100% of compensation vs. the 25% limit in an SEP.

John J. Jurcago, CPA
Strongsville, Ohio

Letters to the Editor
The JofA encourages readers to write letters on important professional issues in addition to comments on published articles. Because space is limited, letters submitted for publication should be no longer than 500 words. Please include telephone and fax numbers. JofA e-mail address: JOAED@aicpa.org .

RESOURCES

Keeping you informed and prepared amid the coronavirus outbreak

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

VIDEO

Excel walk-through: Sparklines

Want to liven up your spreadsheets with some color and graphical elements? Kelly L. Williams, CPA, Ph.D., shows how to use Excel sparklines, which illustrate data trends and patterns via small charts that fit in a single Excel cell.