Thanks a lot. @dmertz
I did not get the point of " the profit sharing contribution for all participants must be based on the same base rate".
Which is correct?
for example,
If the W2 spouse receives 20% profit sharing contribution of W2 wage in BOX1, what's the rate for the owner of SMLLC? 1/(1+20%)=17.7%?
Or
Can the W2 receive 20% profit sharing contribution while the owner receives any rate like 10%?
