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Business & farm
Yes, because you own both businesses, your two business are considered a controlled group As a controlled group, they are treated as a single employer with regard to retirement plans. If you are 100% owner of your sole proprietorship and your LLC is a single-member LLC, these must be treated as a single company and your net earnings from self-employment income will be determined by aggregating these two businesses.
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ā€ˇFebruary 10, 2021
3:52 PM