If an employer has both a defined contribution retirement plan and a defined benefit retirement plan, what are the limits on contribution deductions? The IRS answered that question in an “Issue Snapshot.” Generally, an employer’s contributions to a qualified plan are deductible if they’re ordinary and necessary expenses and compensation for services rendered. However, contributions are limited. To read the Issue Snapshot: https://bit.ly/3BdOCqN Call or visit our website for more information! www.mjscpa.com/
