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4 Replies Last post: Apr 12, 2008 2:44 AM by intechspecial

Dual member LLC with Employees

Feb 11, 2009 10:48 PM

Click to view ajv208's profile Start-up ajv208 2 posts since
Feb 11, 2009
I am a partner in a dual member LLC and we have some employees. I have set up a 401k plan but am not sure if we as owners are eligible for the 401k plan, or if we have to use a different plan altogether...
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Click to view RetireTaxFree's profile Professional RetireTaxFree 3 posts since
Jul 27, 2009
1. Re: Dual member LLC with Employees Jul 27, 2009 12:52 PM
in response to: ajv208
As long as you offer them the same qualified plan as you are in. You can set yourself up in a non qualified plan and can offer them the 401k. As a business owner you can take the amount you pay in taxes and have Uncle Sam pay for your retirement. The best part is, this set-up will provide you with a tax free retirement concept. I would like to send you a complimentary book on it.

Email me for more info at HBWtoddf@gmail.com

Warm regards,
Todd
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Click to view bm911tax's profile Mogul bm911tax 64 posts since
Jun 30, 2009
2. Re: Dual member LLC with Employees Jul 31, 2009 3:35 PM
in response to: ajv208
Since this is a 401K plan, it is a qualified plan, and all employees including the owners are eligable to contribute and be matched. You can also explore profit sharing plan where owners will have much bigger salary deferral rate.

Best of luck
Ben,
http://taxbizpro.com/
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