412(i) Defined Benefit Pension Plan Part I
I have been working with tax qualified plans for years now. Section 412(i) plans have been around for many years but have become especially popular since the recent bear market sliced deeply into traditional retirement plans such as 401(k)s. The 412(i) plan is one of best pension plans that the IRS lets us use. It also lets individuals that have spent their lifetimes building a business, do a little catch up on saving for retirement. The IRS lets you take a deduction on your business taxes and put a majority of that money you saved in taxes into your own retirement plan. Over the next several weeks I'm going to inform you what a 412(i) is, how a 412(i) works, if it is right for you, and how to seek out the right plan.
Dustin Weaver ACS PCS AAPA
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