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I am the owner of the LLC but dont receive a salary. I have employees who meet the SEP-IRA requirements(21+,$450+,3of5years). If I establish a SEP-IRA what is my contribution percentage based off of? Does my percentage have to be the same as the employees?

Am I allowed to offer 401ks to only managers who have worked 2+years or is that against the rules?

I got a great response about my question so now Im asking a similar question for a friend. He has an LLC with 2 restaurant. He is the sole owner of the LLC and gets paid with a 1099. The restaurants have multiple w-2 employees. Would the best tax savings come from setting up a Solo 401k...

Thanks everyone for the replies. I have learned alot but more questions to come haha

Im just a small business owner who is trying to lean as much as I can to succeed.

1) Cant I have a i401k at the parent corporation which is only me 2) For managers only, can I qualify it by giving it to employees who are there 2+ years. Its a fastfood business so most people last 1 year. Or another option is I could hire my managers through the parent companies rather then...

I own a corporation. The corporation owns 3 other corporations each with its own fast food restaurants. I would like to setup a 401k for myself and a few of my managers. I wanted to know if my understanding so far is right. 1) For myself I will setup a Self-employment 401k -I could contribute...