Qualified Plan Design, Administration & Consulting
For Owner-Only businesses—only owners, partners and/or spouses
$290,000+
That’s how much a 55 year-old owner with sufficient service & compensation history, can contribute annually to a Cash Balance & §401(k) Combination plan!
Qualified plan contributions offset taxable earnings dollar-for-dollar!
Owner-Only businesses…
Employ only owners, partners and spouses. Highly profitable owner-only businesses have a few things in common…
- Highly taxed;
- Too busy building a business to focus on retirement savings;
- Would appreciate a predictable annual expense that offsets taxable earnings dollar-for-dollar.
2023 Plan Adoption Deadlines
The deadline for employers to adopt a Cash Balance or Profit Sharing §401(k) plan is the due date of the 2023 tax return (w/ extensions).
| 03/15 – 09/15/2024 | 04/15 – 10/15/2024 |
|---|---|
|
S-Corporation Partnership LLC taxed as either |
C-Corporation Sole Proprietorship LLC taxed as either |