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Foreign profit sharing is a strategic tool for business owners to reduce taxes and enhance savings. This tutorial discusses a specific type of profit sharing related to retirement plans, outlining three main contribution types: match contributions, safe harbor contributions, and profit churn contributions. Profit sharing allows business owners to make flexible contributions up to an IRS maximum of $64,500 per year, which are tax deductible and grow tax deferred. Its discretionary nature enables business owners to determine the contribution amount annually. Additionally, there is a six-year vesting schedule, providing a structured benefit for both employers and employees.