Welcome to the fifth and final installment in our series on the best tax-smart retirement plans for small businesses. In my new article we’ll be taking a close look at the defined benefit retirement plan.
It might be the perfect choice if you’re age 50 or older and your business earns you a healthy income. Does that describe you? Then don’t wait. Read my article titled Tax Tips: Best Small-Business Retirement Plans: Part 5, the Defined Benefit Pension Plan Option.
Three ways our fact-filled article can help you:
- We’ll give you the defined benefit plan basics. Here’s a chance to get an overview of a plan that lets you sock away a great deal of money. If you’ve heard of defined benefit plans, but never really understood what they’re all about, read the full article.
- We’ll explain why the defined benefit plan has a lot to offer. There are two great advantages of a defined benefit plan and we’ll spell them out for you in easy-to understand language when you read the full article.
- We’ll also tell you the DISadvantages. For starters, you should know that contributions to defined benefit plans are mandatory. That means that in good times or bad, you have to pay the required annual amount. You’ll learn about his drawback and more when you read the full article.