ROBS
Client started his small business using ROBS.
He would now like to establish a Simple IRA for the same business. The business has employees
Is this permissible?
Client started his small business using ROBS.
He would now like to establish a Simple IRA for the same business. The business has employees
Is this permissible?
Permalink Submitted by Alan - IRA critic on Wed, 2022-09-14 21:59
How the client raises funds to establish the business has no effect on the type of retirement plan that can be adopted for that business. However, because the IRS is more or less targeting ROBs and will be adding significant staffing for such activities, client should be sure to avoid the hazards inherent when applying ROBs.