dmertz
Level 15

Retirement tax questions

No, you cannot have a separate retirement plan for each business.  Since you are 100% owner of each business, your two businesses are considered to be a controlled group which must be treated as a single employer for the purpose of a retirement plan.  See the following IRS description of controlled and affiliated service groups:  https://www.irs.gov/pub/irs-tege/epchd704.pdf