Tax planning is a great way to help increase your take-home pay as a small business owner. Setting up a Cash Balance Plan could save a business owner $100,000 or more in yearly taxes. These tax savings can be even higher for business owners in high-tax states like California or New York.
Who Benefits The Most From A Cash Balance Plan?
A Cash Balance Plan is one of my favorite tax-planning tools. For the right business owner, the tax savings could be huge. With many successful business owners behind when it comes to funding a secure retirement, the higher contribution limits of a Cash Balance Plan could help you play catch up for retirement during your peak earning years.
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