Senior Actuarial Analyst/ Project Manager Van Iwaarden Associates
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Junior Implementation Specialist - 401(k) Administration Ubiquity Retirement + Savings
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Compliance Analyst - 401(k) Administration Ubiquity Retirement + Savings
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Retirement, LLC
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Senior Retirement Plan Administrator Enhanced Retirement Solutions
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Sentinel Benefits & Financial Group
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United Benefit Pensions Inc.
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Sr. Retirement Plan Administrator Tycor Benefit Administrators, Inc.
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NFL Player Benefit Office
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Sentinel Benefits & Financial Group
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Manager - Defined Contribution Plans M2B Retirement Consulting LLC
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Hessel & Associates, LLC
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Nicholas Pension Consultants
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Retirement, LLC
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Defined Benefit Pension Consultant The Ryding Company
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Senior Administrator / Site Manager Nicholas Pension Consultants
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Defined Benefit Plan Consultant Sentinel Benefits & Financial Group
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Question 35: A is 100% owner of two S corps and would like to establish SIMPLE IRAs for both. Can A defer up to $6,000 in each SIMPLE IRA? Also, would his dollar-for-dollar matching contribution be based on his combined income (up to maximum of $200,000) from both S corps? |
Answer: Here's someone who wants to have his cake and eat it too! He wants to combine the businesses to compute compensation but split them for the deduction limits. |
Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.
The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.
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