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.
Download our illustration request form and we’ll create a customized illustration at no charge or call us at 866-269-2706.
For a 60-year-old business owner earning $350,000 in W-2 income
Cash balance plans aren’t right for everyone. OwnersPlus works well for business owners who are:
Businesses That Might Qualify
Getting Started with OwnersPlus Cash Balance + 401(k) Retirement Program
Please note these plans should be opened by the end of the business fiscal year, usually December 31st
Request Illustration Complete form or call 866-269-2706
Review & Refine Illustration with Dedicated DB Specialist
Business Owner Accepts Plan Design
Plan Documents Prepared and Signed
Open Investment Accounts
Cash Balance plans should be opened by the end of the business’s fiscal year, generally December 31st. Cash Balance 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.
Safe Harbor 401(k)/Profit Sharing plans must be set up before October 1st. The profit sharing contribution on behalf of the business owners will be limited to 5% if this deadline is missed.
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