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Neal Sorry for the delay in answering your questions. I found your email in my junk email bin – don’t know why but I have adjusted our server to accept emails from you and marcy 1) I’d suggest a SEP/401(k) combination plan 2) Since the health coverage is not a plan sponsored by the firm – the reimbursement would be included in employee w-2 – deduction to firm – income to individual with the health insurance premiums being deducted on schedule A as an itemized deduction 3)yes 2 ½ would be a good starting point - additional consideration should be given to having cash to help fund a replacement individual to perform services john From: Puckett Neal [mailto:neal@puckettfaraj.com] John, I have some questions. The answers will help us make some business decision ahead. We've already decided to transition from a P.C. to a PLLC at year's end. Here are some of our questions. Please let me know if you'd rather discuss it on the phone and if so, when you'd be available today. 1. What is the best type of structure for an IRA/401 for the Firm? Is it a Simple IRA structure? 2. If the Firm wants to give some money to each employee designed to offset health care costs, but we don't want to provide a health care policy, how do we do that so we can have a tax write off? 3. You've said before that we can value the Firm at our discretion. We need some sort of guidance to determine that for a buy/sell agreement insurance policy for the equity partners. Would 2 1/2 times the annual projected revenue this year be a good starting place? 4. How much more should a buy/sell insurance policy cover besides the projected value of the Firm? V/r, Neal Neal A. Puckett, Esq LtCol, USMC (Ret) Puckett & Faraj, PC 1800 Diagonal Rd, Suite 210 Alexandria, VA 22314 703.706.9566 The information contained in this electronic message is confidential, and is intended for the use of the individual or entity named above. If you are not the intended recipient of this message, you are hereby notified that any use, distribution, copying of disclosure of this communication is strictly prohibited. If you received this communication in error, please notify Puckett & Faraj, P.C. at 703-706-9566 or via a return the e-mail to sender. You are required to purge this E-mail immediately without reading or making any copy or distribution. |