Do you need a large income tax deduction? We can help!
Business has been good, but your tax bill is looming big.
You want some tax relief, and you know that you need to plan for retirement.
You already take plenty of risk by owning your own business, and want to diversify your portfolio to include strong guarantees.
How large can your tax-deductible contributions be?
Below are some examples of tax-deductions for the 2018 tax year:
- Age 45 - $151,175
- Age 50 - $226,462
- Age 55 - $289,774
Defined Benefit Pension Plans under Internal Revenue Code Section 412(e)(3)
A 412(e)(3) defined benefit pension plan, referred to in IRS regulations as an “insurance contract plan,”
Read more: Defined Benefit Pension Plans under Internal Revenue Code Section 412(e)(3)
A 412(e)(3) plan enjoys certain advantages over the traditional defined benefit plan and is worth exploring if you are the owner of a small business.
Are you a financial advisor or insurance agent that is active in the retirement plan market, or do you have clients that need more income tax deductions?