Employee funded retirement plan to horse farm

[snowshine]

Assuming the farm is operating as an S-corp, then a qualified plan (non-IRA variety) can become a shareholder. I'd still be wary. By the way, since when can a vet tech put $20,000 a year into a retirement?

[Jiggers]

Horse Farm Retirement Plan?

I have a client that is an employee of a vet office. He is eligible to participant in the company retirement plan. The money goes to the owner's (vet) thoroughbred horse farm in KY. Can retirement funds be used for this? How would the horse farm have to be setup to accept employees retirement money? About $20,000 of my client money will go to this each year. Is this legal?

That would be the last place to put my retirement money.

Sounds like something that needs to be investigated.

[spt]

I have a client that is an employee of a vet office. He is eligible to participant in the company retirement plan. The money goes to the owner's (vet) thoroughbred horse farm in KY. Can retirement funds be used for this? How would the horse farm have to be setup to accept employees retirement money? About $20,000 of my client money will go to this each year. Is this legal?