Super 401(k) Plan

Successful business owners and professionals seeking higher tax deductible contributions than the traditional 401(k) profit sharing maximum of $52,000 are looking at the Super 401(k) plan.

What is a Super 401(k) Plan?  A properly designed Super 401(k) plan can include a fully funded and fully deductible cash balance allocation, traditional or any other form of pension, a fully funded and fully deductible medical expense reimbursement account that may be redeemed free of income tax under IRC 105-6; a fully funded and fully deductible profit sharing plan and a fully funded and fully deductible 401k elective deferral.

How is this possible?  The Pension Protection Act of 2006 changed the landscape of qualified plan design.  It is unquestionably the best piece of retirement planning legislation in decades from a contributory, regulatory and fiduciary perspective.

Who could benefit?

·         Highly profitable companies

·         Successful family and closely-held businesses

·         CPA, law firms, medical groups and professional firms

·         Older owners who need to squeeze 20 years of retirement into 5 to 10 years

·         Owners/partners looking for a way to fund buy-sell or stock redemption agreements on a tax deductible basis

·         Wealthy owners and professionals with charitable giving intentions stymied by the limitations on tax deductibility

Yearend is coming and what you pay in taxes never comes back.  Direct more money to your own retirement.

 

Please contact me for additional information. 

Thanks,

D Cory Payne

Beehive Insurance Retirement Planning Services

302 West 5400 South #101

Murray, Utah  84107

801-685-6875 Direct

801-685-2899 Fax

cpayne@beehiveinsurance.com