High Contribution Retirement Plans and the New Tax Law

‘Making the New Tax Law Work with High Contribution Retirement Plans’

For Small Business Owners, Professionals & Individuals with High Self-employment Income

This paper highlights three aspects of the “Tax Cuts and Jobs Act” (TCJA) that impact tax and retirement planning for taxpayers with pass-through income. High contribution retirement plans – Cash Balance and Defined Benefit plans – potentially offer triple value by providing large deductible contributions which can qualify taxpayers for the new Section 199A 20% deduction and then additionally, lower their tax bracket.

Learn More About:

  • Tax Bracket Changes
  • Deductions Eliminated
  • The New Section 199A  20% Deduction for Qualified Taxpayers

The Compounding Tax Savings of Opening a Defined Benefit Plan in 2018

CLIENT SCENARIO: 50 year-old Sole Proprietor earning $250,000 could use a Defined Benefit Plan to lower his taxable income, save for retirement, and get some of the Section 199A deduction
Tax Chart for the Tax Cuts and Jobs Act Defined Benefit Savings

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The Compounding Tax Savings of Opening a Defined Benefit Plan in 2018

CLIENT SCENARIO: 50 year-old Sole Proprietor earning $250,000 could use a Defined Benefit Plan to lower his taxable income, save for retirement, and get some of the Section 199A deduction
Tax Chart for the Tax Cuts and Jobs Act Defined Benefit Savings

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