Tax Savings for Business Owners

How These Plans Save Tax Dollars

• Plan designs generally consist of a combination of a Split-Funded Cash Balance Plan, 401(k), and profit sharing—yielding the largest allowable income tax deduction
• These “qualified” plans enjoy tax-favored status with the IRS; each dollar contributed to the plan may represent about half of that which will NOT be sent to the IRS
• Contributions are generally 100% tax deductible as a business deduction for business owners
• Significant Tax deductions are available to Sub-S Corporations, C-Corporations, Partnerships, LLCs, as well as Sole Proprietors
• Many tax advisors agree that a custom qualified plan should be funded to the maximum before other tax-efficient strategies are explored