TPApril Posted July 12, 2022 Posted July 12, 2022 So law firm is made up of: Multiple ALC's who share ownership of the law firm Other ALC's who share office space and staffing, but not ownership in the main firm The law firm has its own 401k plan. The other ALC's have their own individual law firm. All of them are tested as an Affiliated Service Group. Now, the other ALC's have completely left the firm. I'm pretty sure there is no ASG anymore.
C. B. Zeller Posted July 12, 2022 Posted July 12, 2022 What is ALC? Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
Luke Bailey Posted July 12, 2022 Posted July 12, 2022 TPApril, nless the worked together for clients, there may not have previously been an ASG either. Just sharing office space and staffs, without any ownership or working together on client matters, would not ordinarily create an ASG. Luke Bailey Senior Counsel Clark Hill PLC 214-651-4572 (O) | LBailey@clarkhill.com 2600 Dallas Parkway Suite 600 Frisco, TX 75034
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