Earned Income. Net earnings from self-employment in the trade or business with respect to which the Plan is established, determined without regard to items not included in gross income and the deductions allocable to such items, provided that personal services of the individual are a material income-producing factor. Earned income shall be reduced by contributions made by an Employer to a qualified plan to the extent deductible under Code Section 404. For tax years beginning after 1989, net earnings shall be determined, taking into account the deduction for one-half of self-employment taxes allowed to the Employer under Code Section 164(f) to the extent deductible.
Appears in 3 contracts
Samples: 401(k) Plan Document (East West Bancorp Inc), Non Standardized Adoption Agreement (Princeton Review Inc), Adoption Agreement (Shared Technologies Cellular Inc)
Earned Income. Net earnings from self-employment in the trade or business with respect to which the Plan is established, determined without regard to items not included in gross income and the deductions allocable to such items, provided that personal services of the individual are a material income-producing factor. Earned income shall be reduced by contributions made by an Employer to a qualified plan to the extent deductible under Code Section 404. For tax years beginning after 1989, net earnings shall be determined, determined taking into account the deduction for one-half of self-employment taxes allowed to the Employer under Code Section 164(f) to the extent deductible.
Appears in 3 contracts
Samples: 401(k) Plan Document (Inventa Technologies Inc), Defined Contribution Plan and Trust (First Keystone Corp), Adoption Agreement (Professionals Insurance Co Management Group)
Earned Income. Net earnings from self-self employment in the trade or business with respect to which the Plan is established, determined without regard to items not included in gross income and the deductions allocable to such items, provided that personal services of the individual are a material income-income producing factor. Earned income shall be reduced by contributions made by an Employer to a qualified plan to the extent deductible under Code Section 404. For tax years beginning after 1989, net earnings shall be determined, determined taking into account the deduction for one-one half of self-self employment taxes allowed to the Employer under Code Section 164(f) to the extent deductible.
Appears in 1 contract
