Basically

Are monies in a 401(k) plan subject to creditor attachment or does the "anti-assignment rule" of section 401(a)(13) protect one's assets from creditor attachment.

Company A has a SEP for the 2 owners and EEs. Company B wants to put in a Solo (no EEs obviously). As long as A and B are a controlled group the Solo will not fly... correct? I mean if "A" didnt have a SEP it would have to be part of "B"s plan. What if the Solo was a deferral only plan... no ER contribution. Bottom line... can anything work?

ok, what you are saying is that if the CFP wanted to sell the client "ABC Funds", ABC may require that one of thier approved TPAs must be used? That would make sense if the client used ABC's plan document maybe, but if the doc used was the TPA's non-proprietary doc that shouldnt make a diff. Do you think it would be beneficial to come on a little STRONG... before going through any "hoops" answering questions for the potential new client and request that a small questionaire be answered to get a feeling of their desires and intentions? Maybe make the CFP answer the one page quetionaire.... make him do some work. Of course you dont want to make it too difficult and scare them away. I think being a TPA who only has their service to sell you dont want to look arogant. People dont like that and when you are competing for business in todays business world I dont think arogance is the way to be.

I have run into a few CFPs who pick my brain on behalf of a "potential" client only to find that all the free advice got me nothing. What do people do to prevent this scenario... how do others handle these situations? Or is it the cost of doing business?

Thanks again.... this guy needs to talk to a tax professional. All I can do is give him a heads up to his potential obsticles.

I understand everyone's point. What if the situation was this: Bob and Sue have a business, they sell real estate. Bob is the salesman and goes out and meets the client. Together they form "B & S Real Estate" which is a partnership, not incorporated. They do not have their own office but rather sell through the local Century 21. Q/ If Century 21 issues a 1099 to B&S Real Estate could the income be split among Bob and Sue (as partners)? resulting in 2 deferrals and 2 employer contributions? Each would pay SE tax and med and fica. I am guessing if the 1099 was issued to Bob alone this may have less a chance?

Husband and Wife real estate partners... Together they earned $225K. Husband is paid from the real estate office the 1099. Can that income be split between the husband and wife so they can each defer and share in an employer contribution? or would the 1099 have to be paid to a newly established company, the "Mom and Pop Real Estate Company" and then divided the income up amongst each other? A followup question... when you have the partnership as described above and both hub and wife defer $13,000 each, how do you calculate SE income? and SE tax deduction? and all those wonderful taxes? Since they are hub and wife, is there one SE tax deduction?

SO, if company X wants to have a plan it has to allow Company Z EEs to participate. That creates more administration than parent Company Z wants to participate in. Summarize.... No plan for Company X "Defer only" plan still has to pass ADP, correct? I am pretty sure all 4 company X EEs are HCEs

Company X has 4 EEs and is owned by Company Z. All of the EEs in X are salaried. Company Z does not have a 401k plan in place. The EEs of company X want to contribute to a plan.... maybe simply deferrals, no ER contribution or match. Is there any way around this? Would both companies have to have a plan? Deferral only plan?

The fact that the two businesses are not in the same field (i.e. medical practice and sells car batteries) does not make a difference.... he "controls" both companies by virture of his percentage of ownership.

Ok... thanks. What I am getting out of this is nothing new... except for the 457 13k limit which is NOT part of the 402g limit. A participant in a 457 plan can defer 13k and if s/he is part of a qual plan can also defer 13K... correct? can actually end up deferring 26k for the year if it done that way.

I have someone who is part of a 457 plan and wants to establish a Solo 401K plan (I guess he has a side job). He tells me he can make salary deferrals to the 457 and to the 401k which of course would exceed the 402g limit. Is this true? do you not count deferrals to 457 plans as part of the 402g limit? Is it the same rule with 403b plans? (I know, this is the 457 board but I thought you guys would know). A CPA is telling me he has a similar situation where a client can actually end up contribution $41,000 to his 401a plan and defer $16,000 to his 403b for a total of $57,000. Thanks!

Here Here ! How can the Redsox be called pompous... The team worked hard to accomplish what was considered impossible, overcame huge odds to come back from being down 3 games to beat the "pompous" Yankees. The Cards series was just that, a new series, no looking down on anyone.

Some people misunderstand how the catchup works. If during a calendar year a participant deferrs up to the current 402g limit, then they have not made a "Catchup" yet. If that same participant is eligible to make additional deferrals (because they are 50 or older) then the additional deferrals are considered "Catchup" deferrals. Keep within the catchup limit though!

Another showing dominated by the Redsox. D-Lowe showed up and pitched 7 shutout innings. Manny is MVP.... but as Francona said, they were all MVPs. I think we new it from the 4th pitch of the game that these idiots came to win the World Series! St. Louis fans were wonderful, lets not take anything away from them. The best in the National League. Every time their big bats came to the plate I thought "this is the inning they are gonna be on the board and overcome us". I think pitching was the key. I wanted to add that I just heard that the St. Louis club let all (or some) of the Redsox fans outside the park in to see their team win. Wow... that is class.

Imitation is the sincerest form of flattery... but do we need another Blinky?

Maybe she is in St. Louis trying to scalp a ticket to history. Another record could be broken for the longest winning streak in playoff history, 8 straight games. If they do it this team will be the talk of sports for a while. Did you hear... Theo Epstein chartered a plane and took the Fenway ticket takers and other park employees down to St. Louis to see the game.

AHHHHH ! ! ! you are talking blasphemy! But seriously... anything could happen. You saw it with the Yanks. But I think that the Sox aren't overly confident like the Yankees were.

Well.... Pedro did it in magnificantly last night (with a little help from David "Pappi" Ortiz throwing out Suppan to sustain his shutout!). Who said he could only hit Manny also took the crowd out of it early with the solo shot in the first... Do you think Manny wanted to make up for his poor play the game before? HR in the first, throwing out Walker at the plate. An all around wonderful effort by the "Idiots" from Boston I must say... They certainly have stepped up to the plate after facing elimination down 3-0 against... who were those guys? 7 straight games! WOW, the Sox are on fire! If they take it tonight, now that will be an accomplishment for the recordbooks.... The only baseball team Down 3-0 to come back and win the ALCS, then a "sweep" to win the World Series. As many have said, "you couldn't write this" Has anyone thought of this? Full eclipse of the moon tonight... the moon will not be blackend from the sky but rather it will be a deep red (from the light of the sun being bent around the earth onto the moon)... a sign that the so called "curse" has been lifted?

As stated, you are not in trouble... you just have established 3 plans. It could have been done easier but no harm done. And yes, are you plans in compliance with GUST and EGTRRA?

Is the address that JHilliard has in the post good for any state.... do all letter forwarding requests go there? Anyone have any experience with the letter forwarding program?

I was born in Pitt and was a long term Pirates fan.... but then that was back when the likes of Willie Stargell, Roberto Clamente, and Manny Sanguillen were on the team. Since moving to Boston in '72 and now being here for 34 years, I am a true Redsox fan. Game tonight. Will be interesting to see a Redsox pitcher hit and run (or at least try)

Some people dont consider consiquences. I heard that the car that was set afire was due to the fact that a Jeeter shirt was seen in the back seat. And of course that poor girl that was killed.... beyond tragic. You would think that people would just enjoy the game and have some good clean fun if they won (and walk home dejected if they lost). A friend took his son to the game last night. I asked if he stayed late. He told me he did to simply take it all in. That it was surreal.

What I meant was that their bats are quiet NOW... and we (Redsox fans) should hope they dont heat up! I am not saying the series is over either. Listening to baseball talk on the toob and radio here in Bean-town I have heard that if we at least take one in St. Louis it will be a successful 3 games. Of course the best scenario is for Boston to take 2 and be done! Going all the way to the 7th game would not be good for the city of Boston, win or lose. A happy or disgruntled mob in boston on Halloween night... hmmm

Being a member of the Redsox Nation I am surely hoping for a World Series Championship hat. But, you never know what will happen after watching the Sox/Yankees series. Also, this bunch of Idiots had better stop making errors if they dont want to have their team emblem replace the Yankees as the international symbol for choking. Not being a diehard baseball fan, am I to understand that the Cardinals bats are pretty quiet?