Latest / The Exclusive Benefit - An ERISA Podcast
The Biggest Tax Deduction Your Clients Aren't Taking: Cash Balance Plans
High-earning business owners often max out their 401(k) and still want to save more and lower their tax bill. A cash balance plan can let them put away far more each year on a tax-deductible basis. In this episode, I explain how these plans work, which businesses are a good fit, and how they pair with a 401(k) and profit sharing plan. I also cover the commitments that come with them, including required annual funding, coverage and testing rules for employees, and what happens if the business has a bad year. This episode is for business owners, CPAs, and financial advisors weighing whether a…
The skinny
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