Easily Delete Dropdown in the Profit Sharing Plan

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How to Delete Dropdown in the Profit Sharing Plan

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hi Im Justin Conway Im Microsoft Excel expert Im going to walk you through the steps to remove your drop-down box in Microsoft Excel so lets take the excel sheet that I currently have open and we have dropdowns and column I here as you can see different options so lets say I want to keep the value apples in that area but I want to delete the actual drop-down so that nothing else can be selected what Ill do is for this one cell Ill go into data validate data validation and now Im accessing the information thats held in that cell right now I can change it from list under the allow area to any value and select okay and as you can see the data apples is still available in that cell but the drop-down is gone if you want to perform this function for the entire list of dropdowns that you have you can go ahead and do that using the same function the other way to do this is if you want to remove all of the data and what you would do is either right click or if youre using a MacBook tw

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Can you lose money in a profit-sharing plan?

Can you lose money in a profit-sharing plan? No, you cannot lose money in a profit-sharing plan. However, the money in your account may not grow as fast as it would if it were invested in a tax-deferred account like a 401(k).

How does profit-sharing work in a small business?

A profit-sharing program is exactly as it sounds: Your company gives employees a percentage of its quarterly or annual earnings. Its typically based on your organizations profit, which is your total revenue minus total expenses.

What happens to a profit-sharing plan when the company is sold?

Your company plan is merged into the new company plan (most common) Both company plans will be maintained separately (second most common) Your plan may be terminated (least likely)

What are the rules for profit-sharing plans?

If you, the employer, make contributions to a profit sharing plan, you can deduct up to 25 percent of the compensation paid during the taxable year to all participants. Your contributions to the plan can either be fully vested (nonforfeitable) when made, or they can vest over time ing to a vesting schedule.

Can you opt out of a profit-sharing plan?

A: Under ERISA, an employer must make contributions on behalf of all eligible employees; thus, an employee cannot opt out of receiving the employer contributions.

What are the pitfalls of profit-sharing?

The disadvantage of profit sharing plans is that they are discretionary, meaning employer contributions are not mandatory or guaranteed. The administration costs for a profit sharing plan are also higher than those for standard retirement plans.

What is the penalty for profit-sharing plan?

You will pay a 10% penalty tax if you receive a distribution and you do not qualify for an exception. Two types of distributions are permitted from 401(k) plans. One is called a financial hardship withdrawal. It is subject to applicable income taxes and a 10% early withdrawal penalty if you are younger than 59.

Can an employer keep your profit-sharing?

Employees do not have to take distributions from profit-sharing plans. If an employee leaves their job, they can take their 401(k) money or leave it in the plan. If an employee leaves their job, they cannot take their profit-sharing money.

What is a deferred profit-sharing plan?

A DPSP is a way for your employer to help you save for the future. They do this by taking part of the company profits and distributing those funds into designated account for eligible employees. Only your employer can contribute to your DPSP, but you may be able to choose how that money might be invested.

What is the 25% rule for profit-sharing?

If you, the employer, make contributions to a profit sharing plan, you can deduct up to 25 percent of the compensation paid during the taxable year to all participants. Your contributions to the plan can either be fully vested (nonforfeitable) when made, or they can vest over time ing to a vesting schedule.

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