About the tax implications of qualified pension plans is true : Employer contributions are deductible up to certain limits as an ordinary business expense.
What is tax implications?
- Business owners who have signed tax returns can be held liable if they undergo an IRS or tax implications.
- It is the responsibility of tax filers as well as owners to ask questions and stay up to date with tax changes .
- An effective way to reduce your tax implications is to pay into your retirement account through an employer-provided plan or an Individual Retirement Account (IRA).
- Both the medical expense account and the flexible expense account help reduce your tax implications in the year your contributions are paid.
- Taxes are very important because the government uses them to collect this money and fund social projects.
- Without taxes, government contributions to the health sector are impossible.
- Taxes are used to fund health services such as social care, medical research, and social security.
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