Can a 2 person LLC (Husband & wife) set up a retirement plan such as SIMPLE IRA or SEP IRA,. They have profit & profit distribution, but do not take salary. They have no employees.
If they can set up a SIMPLE or SEP -- can they only contribute a share of the profit? There would be no salary deferral part since they are not taking salary - is this correct?
If they can set up a SIMPLE or SEP -- can they only contribute a share of the profit? There would be no salary deferral part since they are not taking salary - is this correct?
Comment