Hellow guys, Welcome to my website, and you are watching Solo Defined Benefit Plans: Our Favorite Tax Strategy. and this vIdeo is uploaded by Emparion at 2021-11-25T08:45:40-08:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | Solo Defined Benefit Plans: Our Favorite Tax Strategy |
| Video Uploader | Video From Emparion |
| Upload Date | This Video Uploaded At 25-11-2021 16:45:40 |
| Video Discription | If you would like to get your own custom illustration, just click on the link below: https://www.emparion.com/free-cash-balance-plan-design/ If you would like schedule a free 30-minute call to review your situation, click on the following link: https://appointmentforyou.as.me/FreeInquiry All you need to know about solo defined benefit plans and solo cash balance plans. Solo defined benefit plans in cash balance plans are probably our number one service offering. There are many individual soul proprietors and self-employed business owners that want to maximize their retirement savings while limiting their tax liability. One of the biggest advantages of solo plans is that you don’t have to worry about employee testing. Because defined benefit plans and cash balance plans have non-discrimination rules just like other retirement structures, there are limitations on what you can contribute while still making sure you contribute for eligible employees. Assuming the business owner and possibly the spouse are the only employees of the company, it gives you an opportunity to really maximize the funding for the plan. Most business owners are solo owners. That’s typically how a business will start off especially when it comes to people in the professional services like physicians, doctors, CPAs, attorneys, IT professionals, and software engineers. There are many advantages to solo defined benefit plans and solo cash balance plans. Self-employed people need to realize that they have much larger contribution amounts under these plant structures. When a business owner gets older the contribution amounts will increase substantially and in many situations can be in excess of $300,000 a year. Plans can also be structured with flexible funding levels where by there is a minimum contribution a target contribution and the maximum contribution. Under this structure there is a lot of flexibility for the solo business owner to be able to make contributions that are in line with their business income for the given year. Solo business owners come in a variety of different types. There can be soul proprietors who file a schedule C, S Corp. and C Corp. owners whereby they are the only one on W2, and also partnerships for husbands and wives. Solar define benefit plans and solo cash balance plans work wonderful in most situations. Make sure you reach out to us and we would be glad to chat with you about your situation and run you a fit free illustration. In that case, you can see the true power of these plans and understand the flexible contribution levels. |
| Category | Education |
| Tags | solo defined benefit plans | solo cash balance plans | self-employed defined benefit plans | sole proprietor defined benefit plans |
