AWMA Study Guide Questions and Answers 100% Solved

AWMA Study Guide Questions and Answers 100% Solved Corporations receive a partial exemption for income tax purposes ️️Dividend income from investments in other companies (70,80,100% tiers) profit-sharing plan ️️incentive pay in which payments are a percentage of the organization's profits and do not become part of the employees' base salary. Employer contributes 0-25% of covered payroll, individual may not exceed lesser of 100% of company or $66k. (Defined contribution plan) SIMPLE ️️For 100 or less employees. Retirement plan allows for elective contributions from employer + employee max of $15.5k (each). Age 50+ additional $3k catchup allowed. 2 year rollover holding period required Liability Umbrella ️️umbrella policies (both personal and commercial) are purchased to provide excess liability coverage to an insured party.