truphao Posted February 9, 2023 Posted February 9, 2023 Let's consider a hypothetical situation. We have a lovely couple, he is an independent 1099 ER doc, she has a one-person dental office running her business as a PC. The husband happens to be very good with finances, budget planning and all the financial matters and handles those issues for his business and as a W-2 employee for the wife's dental office. She is very good with marketing, internet media, licensing etc. and handles those aspects for herself and for the husband's business as a W-2 employee. Am I dreaming that after Secure 2.0 change to family attribution rules that particular couple would be able to double-dip everywhere on retirement plans? Two 401k plans, 2 DB/CB plans, etc.?
Popular Post Belgarath Posted February 9, 2023 Popular Post Posted February 9, 2023 I think you are dreaming. As I understand it, the SECURE 2.0 fix is to disregard community property ownership for attribution between spouses, which would have the effect of allowing them to use the spousal noninvolvement clause. In your situation, each spouse works for the other's business, so the spousal noninvolvement clause would not be available. There's also a change to the attribution through a minor child to the other spouse. This isn't a complete "technical" explanation... P.S. - see SECURE Act Section 315. Bri, Jakyasar, DMcGovern and 2 others 5
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