Retirement Plan for LLC Members

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  • Unregistered
    #1

    Retirement Plan for LLC Members

    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?
    Tags: None
    • Bird Legs
      Senior Member
      • Jun 2005
      • 990
      #2
      Husband & Wife LLC

      Question, how do they file? C Corp.? S Corp.? Partnership? Sole Proprietor?
      .

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