The facts are:
An S corp owned by two sole proprietors; the s corp is in the employee benefits business and receives commisions for group medical insurance and life insurance. The S corp has 4 employees, the employees service the business of the s corp as well as process and service business of 2 non owner non employees who pay the s corp a management fee for services which include rent and phones, etc. The s corp also services some business for the 2 sole proprietors that are 50% owners.
The sole proprietors income is schedule c income primarily 75%+ from investment management fees and commisions paid to them by a broker dealer, the other 25% is from insurance commisions.
The plan is to have a SIMPLE IRA for the S corp and seperate Profit Sharing and/ DB plans for the sole proprietors. We are receiving conflicting info as to whether or not this is an ASG.
Thanks for any input