Search the Community
Showing results for tags 'Eligible employee'.
Found 1 result
-
Client opened a SEP with bank in 2009. Client does not have original paperwork and claims to not have prepared SEP plan doc. She funded in 2009 - 2013 (in 09-10 based on schedule c, from 2011 on she incorporated and based contributions on w-2). She hired an employee in 2014 who earned $65,000. Files taxes on 1120s and is on extension. Wants to fund for 2014 but wants to exclude employee. Can client exclude the employee from the plan? If not, can client start a new and separate SEP for employees other than owner?
