Introducing the Sole Proprietorship/Partnership
Cash Balance Calculation
EBG Systems is proud to announce the addition of a new feature in its Retirement Planning Center - Cash Balance System, the Sole Proprietorship / Partnership calculation.
This calculation divides the total Schedule C or K1 income amongst the owner(s) based on the Employer Contribution, the Social Security Tax, and the Owner Compensation.
The Sole Proprietorship / Partnership calculation is available for the following Entity Types displayed in the General Tab: Partnership, Limited Liability Company, Limited Liability Partnership, or Sole Proprietorship.
Just select to be Taxed as Sole Proprietorship / Partnership then enter the total Schedule C Income or K1 Income in the Total Earnings field. Then run your report. It's that simple!
To see the feature in action, fill up the form on the right and request a demo.
Request a Demo