With Section 315, Reform of family attribution rule.
Question 1: Can the client set up retirement plans under Property Management Company only and disregard Dad's Dental Practice with 20 employees?
Question 2: If the answer is No to Question One, can the client allocate 100% to Eldest Son and have Mom and Eldest Son receive payroll under Property Management Company and still disregard Dad's Dental Practice with 20 employees?
Question 3: If the answer is NO to both 1 and 2, can the Dad change ownership to 0% from both Dad's Dental Practice and Property Management (Second Son will own 100% of Dad's Dental Practice), Mom receives 5% ownership and Eldest Son receives 95% ownership and set up the retirement plans under Property Management only. Currently, there is no retirement plan in place for Second Son Dental Practice.
