Guest LTurner Posted January 31, 2003 Report Share Posted January 31, 2003 mom and dad have a C Corp, only employees are mom, dad, and kids. SEP plan in place and being maximized. kids have an S Corp (which was created to service the C Corp) and all the employees. kids (owners) do not take salary from C Corp the C Corp and the S Corp were initially one company now carved into two S Corp has a SIMPLE I believe this is an affiliated service group based on my research, as one corp exists only to service the other Should these two corps have one plan? rather than a SEP for the family and a SIMPLE for the employees I feel there is a problem here.... what are the problems and where do we go from here? please advise :confused: Link to comment Share on other sites More sharing options...
Guest LTurner Posted January 31, 2003 Report Share Posted January 31, 2003 oops - in previous post I said kids (owners) do not take salary from C corp - that was wrong, they do take salary from C Corp but NOT from the S Corp that they own. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now