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In a Model That Analyzes the Effects of a Tax

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In a model that analyzes the effects of a tax change,the tax serves as an endogenous variable.


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Qualified Status

A designation indicating that a person or entity meets the specific requirements set by law or regulations for a particular purpose or benefit.

Highly Compensated Employees

Employees who receive pay above a specific threshold set by the IRS, subject to additional rules and regulations for retirement plan contributions.

Pension

A retirement plan that requires an employer to make contributions into a pool of funds set aside for an employee's future benefit.

Profit-sharing Plan

A retirement plan that gives employees a share in the profits of the company. Each employee receives a percentage of those profits based on the company's earnings.

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