This article has been updated for 2022. Defined Benefit Plan Due Dates Defined Benefit Plans have several deadlines. In order to receive favorable tax treatment and avoid penalties, you must meet these due dates in a timely fashion. What deadlines must you be aware of in a Defined Benefit Plan? First, you must set up […]

Defined Benefit Plan Deadline

September 30, 2019

2021 Defined Benefit Plan Deadlines. Due Dates to Set Up and Fund the Plan.

This article has been updated for 2022. 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

August 26, 2019

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

This article has been updated for 2022. 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 ~$60k per year? The answer lies in combining the power of several individual strategies. Strategies that […]

Defined Benefit Contribution Front-load

August 7, 2019

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

This article has been updated for 2022. 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

July 30, 2019

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

This article has been updated for 2022. How much can you save in a Defined Benefit Plan? If you’ve read our prior posts, you know that Defined Benefit Plans allow for substantial, tax-deductible retirement contributions. In fact, for high-income business owners, a Defined Benefit Plan (“DB Plan”) is often an ideal vehicle. Just how much can […]

How Much Can You Save in a Defined Benefit Plan?

January 18, 2019

How Much Can You Save in a Defined Benefit Plan? Quite a Bit!