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Reduce your tax liability today

November 02, 2022

Today, many successful business owners are using advanced retirement strategy designs to manage tax liabilities. For example, a Roth 401(k) paired with a profit-sharing or defined benefit plan gives you the opportunity to:

  • Forego a deduction on Roth 401(k) deferrals in favor of tax-free distributions in retirement
  • Deduct a portion of your current income as profit sharing or defined benefit plan funding
  • Create and grow two contribution buckets, tax-deferred and tax-free, to better manage your tax liabilities as you take withdrawals in retirement

Is your retirement plan reducing your tax bite the way you hoped it would? Does it offer you tax-management tools for retirement? Call the office today to review your strategy to make sure it’s as tax-efficient as possible.

This communication is designed to provide accurate and authoritative information on the subjects covered. It is not, however, intended to provide specific legal, tax, or other professional advice. For specific professional assistance, the services of an appropriate professional should be sought.