Defined Benefit Plans
A Defined benefit (DB) plan is an IRS-approved qualified retirement plan that allows independent professionals, consultants, individuals with self-employment income, and small business owners to make large annual tax-deferred contributions and accumulate as much as $2 Million in as little as 10 years. In many cases our customized approach will allow over 96% of the contributions to go to you, the owner.
Advantages of Defined Benefit Plans
- Highest allowable contributions to a qualified plan — $100,000 – $250,000+ annually.
- Tax deductible contributions may double with Spouse as an employee to $500,000 Annually.
- Assets may be creditor protected under ERISA.
- Huge annual tax savings reduces adjusted gross income making itemized deductions and personal exemptions more valuable.
- Build Employee loyalty.
- Investments grow tax-deferred building wealth faster than a taxable investment.
- Payroll taxes may be reduced with the use of Defined Benefit Plans.