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#4
10-23-2004, 09:50 PM
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 Re: Using P'ship guar. pymts to set up self emp retirement? - quote - > No, it's not. Solo 401(k)s are for one-owner businesses with
Actually if the partnership has only partners (no other> no employees. A partnership is, by definition, a business > with more than one owner. employees), the solo 401(k) works, too. -- Thomas E Healy, CPA, PC 1650 38th St., Ste 202W Boulder, CO 80301 Please send email to: tom[at]tomhealycpa.com, since I block all email at my newsgroup address. phone (303) 443-1804 fax (720) 489-3772 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
10-22-2004, 07:04 AM
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| Re: Using P'ship guar. pymts to set up self emp retirement? - quote - > I receive guaranteed payments from a partnership. I want to
This is possible only if the partnership sets up the plan.> set up a solo 401K using this self emp. income. Is this > possible? How do I show the "employer" matching > contributions? On what form? -- Thomas E Healy, CPA, PC 1650 38th St., Ste 202W Boulder, CO 80301 Please send email to: tom[at]tomhealycpa.com, since I block all email at my newsgroup address. phone (303) 443-1804 fax (720) 489-3772 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
10-22-2004, 06:45 AM
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| Re: Using P'ship guar. pymts to set up self emp retirement? "Cheryl" <cherylfdgm[at]yahoo.com> wrote - quote - > I receive guaranteed payments from a partnership. I want
If the income is from a partnership as guaranteed payment> to set up a solo 401K using this self emp. income. Is > this possible? How do I show the "employer" matching > contributions? On what form? the plan would need to be set up at the partnership level. It would need to meet the coverage, discrimination & ADP tests at the partnership level. Plan contributions made by the partnership would be passed through as a separate line item on the schedule K-1, and would end up on the Keogh deduction line of the 1040. Brian Bivona, CPA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
10-22-2004, 06:26 AM
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| Re: Using P'ship guar. pymts to set up self emp retirement? - quote - > I receive guaranteed payments from a partnership. I want
No, it's not. Solo 401(k)s are for one-owner businesses with> to set up a solo 401K using this self emp. income. Is this > possible? no employees. A partnership is, by definition, a business with more than one owner. -- Jan Zobel EA, author of 'Minding Her Own Business: The Self-Employed Woman's Guide To Taxes and Recordkeeping' << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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10-22-2004, 06:07 AM
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| Re: Using P'ship guar. pymts to set up self emp retirement? "Cheryl" <cherylfdgm[at]yahoo.com> wrote: - quote - > I receive guaranteed payments from a partnership. I want to
The partnership must set up the plan. You cannot do it> set up a solo 401K using this self emp. income. Is this > possible? How do I show the "employer" matching > contributions? On what form? unilaterally as a partner. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
10-19-2004, 04:05 PM
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| Using P'ship guar. pymts to set up self emp retirement? I receive guaranteed payments from a partnership. I want to set up a solo 401K using this self emp. income. Is this possible? How do I show the "employer" matching contributions? On what form? Thanks Cheryl << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| emp, guar, phip, pymts, retirement, set |
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