TAX PLANNING

Tax Planning Means Different Things to Different People — A CPA/accountant/EA typically thinks of tax planning as doing a tax return for a client and sending them the bill for [...]

401(k) Plans If the following comment from your CPA sounds familiar to you, then your CPA is similar to most clients we talk with: “Put money in your 401(k)/Profit Sharing [...]

Roth 401(k) Plans A new retirement account was signed into law on August 17, 2006. It is a component of a “regular” 401(k) plan; however, the funding of a “Roth” [...]

Profit Sharing Plans The bread and butter income tax deferral tool for many small business owners is the profit sharing plan. A Profit Sharing Plan is a qualified retirement plan [...]

Defined Benefit Plans Use Them for Large Tax-Deductible Contributions Most people think of Defined Benefit plans as old-school plans that no one uses anymore. Because of a relatively recent tax [...]

412(e)3 Defined Benefit Plans A New Twist On An Old Friend A 412(e)3 Plan is a special type of Defined Benefit Plan. This plan works almost exactly the same way [...]

Cash Balance Plans Cash Balance Plans CBPs are a special kind of Defined Benefit Plan. In short, you get all the benefits of a Defined Benefit Plan or 412(e)3 Defined [...]

401(h) Plans Tax Deductible, Tax Sheltered, and Tax Free Payouts What is a 401(h) plan? It’s a medical expense account under Code Section 401(h). The plan pays for costs associated [...]