With the booming gig economy, there are more high-income self-employed people than ever. If you are self-employed, you may not have planned for high taxes this year. But a defined benefit retirement plan can help reduce taxes and build wealth if you open the plan before year-end.
Our Quick Adoption process allows high-income earners to open a defined benefit plan that still can provide clients big 2016 tax breaks if they open plans up by Dec. 31. A DB plan can potentially reduce taxable income by $100,000 or more while adding $1-2 million to retirement savings over 5-10 years.
Individuals can invest plan contributions in any marketable securities, such as stocks, bonds, ETFs, mutual funds and annuities. These IRS-approved plans require annual contributions and the services of a third party administration provider. Dedicated Defined Benefit Services have consultants available to talk to you at 866-269-2706.
This retirement plan is good for owner-only companies and family businesses, doctors, consultants, contractors, realtors, authors, and even farmers.