Jason Grant

The CPA is arguing with me that he can do this, sometimes it's an uphill battle that we fight. Any more words of wisdom I can share with the CPA?

Thanks to you both. There are some Employees of the firm that are clerical W2 workers. Since the Person in question is an Owner of the Agency does this change things and the SEP needs to be under the Agency name as Bill indicates above?

Here's the question from the CPA - Owner (age 40) owns 20% of a Real Estate firm (no qualified Plan). The Other Owners are parents (65%) and someone else unrelated 15%. I have been told that ALL of the Sales Commissions are paid to the Individuals (about 50 of them) and they are reported on 1099 income. The CPA would like to set up a SEP with the 40 year old above, and I have been told there is no management function here either. I just don't think it's passing the sniff test, but I could be wrong. Any suggestions?