A profit sharing plan is a defined contribution program under which you may determine annually how much your company will contribute to the plan. The key advantages of a Profit Sharing Plan are:

• Offers tremendous flexibility to the employer in determining the annual contribution amount
• Employers decide each year how much to contribute
• Employers can contribute up to 25% of their eligible payroll
• Each eligible employee can receive a contribution of no more than $45,000 (2007 limit)
• The plans must be in place by the last day of the employer’s taxable year for which contributions will be made