Madison71 Posted June 23, 2011 Posted June 23, 2011 Have a client who has clearly met the 70% withdrawal over th 3 year period. Calculation looks correct - amount owed is over 200,000 so no deminimus exception. My question is this is a very small business....they had 7 employed and now down to 3, but not insolvent or looking to file bankruptcy. Is there special method of calculating which would allow a small business that qualifies to pay less than the full amount? Thank you for your time.
Erik Read Posted June 30, 2011 Posted June 30, 2011 Which industry are they participating in? There are some exceptions and some additional issues based on the industry. __________________ Erik Read, APR CKC
Madison71 Posted July 15, 2011 Author Posted July 15, 2011 Which industry are they participating in? There are some exceptions and some additional issues based on the industry. It is basic delivery trucks. They are not in construction or one of the other industries which have some defenses to this.
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