QUESTION 1: If I
bring on other people as owners of my company, will they be able to use the
Solo 401K that my company is sponsoring?
ANSWER: Only a maximum of two
business partners may adopt a solo 401k. Therefore, once your business exceeds
the 2 person limit, the solo 401k will need to be converted to a traditional
401k (a 401k for a business with more than two business
partners/employees). We offer
traditional 401k plans in addition to solo 401k plans, so once your business reaches this milestone let us know and we will convert your solo 401k plan to a
traditional 401k in a matter of a few days.
QUESTION 2: Will I
be able to take the Credit for Small Employer Pension Plan Startup Costs
(form 8881)?
ASNSWER: Visit following blog
from our website to learn about the plan startup credit and Form 8881.
Thanks!
John
No comments:
Post a Comment