Tomme

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Tomme

A Norwegian unit of length approximately equivalent to 26.1 millimeters. Before the 1970s, it was used to measure Norwegian timber. Since then, the word has been used to denote an inch.
References in periodicals archive ?
But consult a book such as ``Wally's Big Book of Gardening'' by Susanne Tommes (Abbeville Press; $14.
Tommes suggests an easy and quick way to grow sprouts that will satisfy the short attention span of almost any child.
Source: ``Wally's Big Book of Gardening,'' by Susanne Tommes
505(b)(7) limits when the plan is a VEBA, but non-VEBA TOMMEs (plans operating with taxable trusts) are not required to limit compensation or to comply with ERISA's nondiscrimination rules unless their purpose is to provide a benefit to participants beyond retirement.
The court, in the Prime Financial Trust Cases, found that the adopting employers were not participants in TOMMEs.
TOMMEs can be an effective planning tool for practitioners who do their due diligence and assist their clients in choosing the right program.
The benefits to be derived from a TOMME are available through the adoption of the plan by any business entity (whether a proprietorship, partnership, limited liability company or corporation).
For advisers intending to satisfy an estate liquidity need or a business succession plan, or to protect personal asset accumulations for the next generation, the focus should be on a TOMME that complies with the requirements of Secs.
In the years since 1986, cautious professionals have viewed the TOMME as a cutting-edge planning tool with many gray area issues that could leave clients with significant tax exposure.
The court concluded that the Prime Financial Plan did not qualify as a TOMME.
One is that welfare benefit plans cannot be used as vehicles for providing deductible deferred compensation benefits to principals, because the assets must be fully at risk in the pooled trust to provide benefits to the participating employees of all employers participating in the TOMME.
When assisting a client in selecting a TOMME, a tax adviser should contact its administrator and trustee to be certain that the plan has taken care of all filling requirements.