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Defined Benefit Plans
| Qualified Retirement Planning-Defined Benefit Plans Now is the time to consider whether or not a qualified plan makes sense for you and your organization. There are several types of qualified plans and today we will focus on the defined benefit plan. Defined Benefit Plans are appropriate for: High income professionals structured as self-employed, independent contractors, Doctors, Sales Professionals. These plans are also good for entrepreneurs who receive income (self-employment) from a secondary business. This includes royalties from endorsements, and artistic ventures. One key feature of defined benefit plans is that they provide significant tax deductions. In a short period of time, you can “sock” away significant monies. Maximum contributions are based on age, income and years in business. Generally speaking, the older you are, the higher is your tax deductible contribution. Qualified plans are protected from creditors & predators. If this type of plan right for you, let’s have a confidential discussion. |