Single Owner Medical Practice
Objective: Maximum contribution and tax deduction
Profile: Medical Practice, One Physician age 47 and spouse W -2 income $230k. Retire age is 62, 4 PA's, 21 Employees
Solution: Designer 401k+TM
Combination (CB), PSP/Incidental Plan for 7 years and a PSP Plan to achieve 98% of total contribution to the
Annual Contribution: $317,550
Tax Savings@ 37%: $117,494
Projected Accumulation: $2,714,770
Incidental Benefit can allow up to $594,000 in tax free distribution in retirement per participant
Single Owner W-2 and 1099 Income
Objective: Maximum contribution and tax deduction
Profile: Single Owner age 41, W-2 Income $471,000 1099 Income $203,920 takes $50,000 W-2 salary from his LLC
Solution: Designer 401k+TM
Combination (CB), PSP/401k, Incidental Plan for 7 years to eliminate taxation on 1099 income
Annual Contribution: $134,833
Tax Savings@ 37%: $49,888
Projected Accumulation: $1,152,702
Incidental Benefit can allow up to $594,000 in tax free distribution in retirement per participant
Software Company 1/3 Partner & 2/3 Partner
Objective: Maximum contribution and tax deduction
Profile: 2 Partners, age 51 and 60, 4 employees. Plan is max front loaded, and annual contributions may be reduced to avoid early overfunding.
Solution: Designer 401k+TM
Combination (CB), PSP/Incidental Plan for 5 years to achieve 98% of total contribution to the owners.
Annual Contribution: $1,002,350
Tax Savings@ 37%: $370,870
Projected Accumulation: $5,815,547
Incidental Benefit can allow up to $594,000 in tax free distribution in retirement per participant
Hospitalist 7 Partner Group with Employees
Objective: Maximum contribution and tax deduction
Profile: Medical Practice, 7 Partners between ages 43 & 61 W-2 income $265k ea partner and 10 Employees
Solution: Designer 401k+TM
Combination Defined Benefit (CB), PSP/Incidental Plan for 10 years to achieve 98.6% of total contribution to the owners,
Annual Contribution: $1,456,265
Tax Savings@ 37%: $538,818
Projected Accumulation: $3,554,288 Yr#2 $2,178,000
Incidental Benefit can allow up to $594,000 in tax free distribution in retirement per participant