This article has been updated for 2025. Introduction A one-owner business often begins as a Sole Proprietorship. Other times, the business is set up as a Limited Liability Company (LLC) without any tax election. In either of these cases, the business would be taxed as a Sole Proprietorship. However, as the business grows, the tax […]

Advantages of Taxation as an S Corporation for Defined Benefit Sponsors

This article has been updated for 2025. Contribution backfilling is a powerful strategy that business owners may use in a variety of situations. This article will provide Defined Benefit Plan context for understanding, explain the concept of contribution backfilling, and examine several situations where backfilling in a Defined Benefit Plan may be beneficial. Context: Defined […]

Backfilling a Defined Benefit Plan

Defined Benefit Strategy: Contribution Backfilling

This article has been updated for 2025. Background: Locum Tenens Retirement Are you a locum tenens worker? If so, planning for your retirement is critical. For example, you likely are not enrolled in an employer-sponsored retirement plan. In other words, saving for retirement is your responsibility. However, being self-employed provides a broader range of options […]

locum tenens retirement

Retirement for Locum Tenens Workers. What Is the Right Vehicle?

This article has been updated for 2025. What Is a Cash Balance Plan? A Cash Balance Plan is a type of retirement plan. However, unlike individual retirement vehicles, such as IRAs, Cash Balance Plans are employer-sponsored. Thus, an individual cannot adopt a Cash Balance Plan unless he or she is self-employed. Additionally, if an individual […]

What Is a Cash Balance Plan

What Is a Cash Balance Plan? How Does a Cash Balance Plan Work?

This article has been updated for 2025. Early Defined Benefit Adoption It’s human nature to take action as a deadline approaches. For example, why do you think CPAs are busier in April than February? Not surprisingly, it’s the same for clients setting up a Defined Benefit Plan. Historically, we’ve seen Defined Benefit inquiries and setups […]

Setting Up a Defined Benefit Plan Early in the Year

Setting Up a Defined Benefit Plan Early in the Year. What Are the Advantages?

This article has been updated for 2025. A side business provides a great opportunity to save for retirement. In fact, a business owner may be able to save and deduct most or all side business income using a Defined Benefit Plan. SEP and 401(k) Plans significantly limit retirement contributions. Defined Benefit Plans, on the other […]

Side Business Defined Benefit

The Side Business Defined Benefit Plan. When a Solo K Isn’t Enough.

This article has been updated for 2025. How could a business owner deduct a $900k contribution that is used to fund his own retirement? How is such a large contribution possible when SEPs and 401(k) Plans are limited to $70,000 and $77,500, respectively, per year? The answer lies in combining the power of several individual […]

Defined Benefit Contribution Front-load

How a Business Owner Deducted a $900k Retirement Contribution in One Year

This article has been updated for 2025. If you run a business, a Personal Defined Benefit Plan could save you tens of thousands of dollars (or more). How do you know if a Personal Defined Benefit Plan is right for you? What are the advantages of setting up a Plan? These are the questions we’ll […]

What is a Defined Benefit Plan?

The Personal Defined Benefit Plan. Advantages and When It Makes Sense.

This article has been updated for 2025. Introduction What is the definition of a Defined Benefit Plan? How do they function? Are they similar to other retirement plans? We will answer these and other questions in this article. Defined Benefit Plan Definition Defined Benefit Plans are retirement plans. Unlike Defined Contribution Plans, benefits are not […]

Defined Benefit Plan Definition

Defined Benefit Plan Definition. What They Are and How They Work.