We have a doctor who is a 10% shareholder in a large medical practice. She receives a $30,000 annual contribution from the medical practice's money purchase pension and profit sharing plans.
This doctor also runs a food brokerage business with her husband which is a partnership. The doctor and her husband are the only employees. Can a SEP be set up for the doctor's earnings in the food brokerage partnership even though she is already receiving $30,000 from the medical practice?