mah001 wrote:K.B., are you saying p'ship might not count because there are other partners who'd need to get a contribution?
If the p'ship business and the 'pure self employment business' are in a controlled group or affiliated service group relationship with each other, then the SEP would be required to consider earnings and employees of both businesses.
Yes, I'm saying the p'ship may not count for that reason. There's no SEP in place and the partners have no desire to do this.
UPDATE: Ok I did more research on this and discovered the following:
1) Definitely not an affiliated service group since there are no business dealings whatsoever between the sole-prop and the partnership.
2) In order for it to be a controlled group, I would need to own at least 80% of the partnership, and I do not. As a matter of fact, my ownership is less than 50%.
I used the calculations found starting on page 14 of: http://www.erisa-lawyers.com/documents/Chapter11.pdf