I opened a OnePersonPlus Defined Benefit plan and put away $150,000 last year and another $120,000 this year and it’s all a deduction. I figure at least 30% of it is a gift from the IRS. LEARN MORE ABOUT ONEPERSONPLUS MORE CLIENT PROFILES
High income earners 50 or older may be eligible to contribute to a OnePersonPlus 2 to 3 times the amount they might otherwise contribute to a SEP or 401(k).
For a Client Age 52 Earning $285,000
OCCUPATIONS THAT MIGHT QUALIFY
Real Estate Agent
Defined Benefit Plans should be opened by the end of the business’s fiscal year, generally December 31st.
Contributions are not required until the tax filing deadline with extensions but no later than eight and a half months after the end of the fiscal year.