Discussion:401(k) Funded C-Corp

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Discussion Forum Index --> Accounting Questions --> 401(k) Funded C-Corp

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Nugget89 (talk|edits) said:

15 July 2013
I have a potential client who emailed me about her small company. It is operating as a C-Corp and has been funded by her 401(k) (the personal account was closed and rolled into the business).

She's now unhappy with the arrangement. She says she's unable to take a salary because of losses, gets charged a monthly fee for maintaining the account, etc. Are there any tax consequences of her dissolving the corporation at this point? I've encountered few people operating this way and have never had this question before. Thanks!

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