Employment law, retirement accounts, | Law homework help

 

Ebony Scrooge is the only proprietor of Ebony’s Plum Pudding Firm. Plum puddings have change into fairly widespread and Ebony’s enterprise has skilled substantial development. For the previous 5 years, Ebony’s gross revenue has ranged from $250,000 to $275,000 per 12 months. As a self-employed individual, Ebony is contemplating establishing a person retirement plan. Nonetheless, she doesn’t know the distinction between a standard IRA, a Roth IRA and a Keough Plan. Ebony is aware of little about every of those retirement account so has come to you for recommendation.

1. Ebony has little or no debt. She is 37 and want to retire at an early age. What would you advise?

2. Ebony can be involved about fluctuations available in the market. Whereas her enterprise is at the moment experiencing regular development, she desires to know whether or not she will be able to entry her retirement cash ought to the enterprise want further capital.

three. Lastly, Ebony explains that along with her plum pudding enterprise she is employed by Marley Enterprises and is roofed beneath Marley’s company plan. What impact, if any, will this have on the totally different retirement plans?

Please write a letter to Ebony to reply her issues, citing applicable authority the place relevant.

An IRAC-style essay is NOT needed for this project.