A CPA acquaintance of mine recently forwarded this article to me (I had missed it when it was first published). The article reports that GOP presidential candidate Jeb Bush contributed an average of $350,000 per year into a defined benefit pension plan, taking tax deductions on those full amounts. The article calls it “a little known but perfectly legal tax strategy”.
Well, we’re doing our best here at IAI to get the word out about this “tax strategy”. We routinely set up 30 to 40 new defined benefit pension plans each year, allowing our clients to enjoy the same type of tax breaks that Mr. Bush is realizing. Our small business owner clients are not all as wealthy as Mr. Bush (and none is a presidential candidate), but have found that we excel at designing retirement plans that exactly meet their needs.
Contact any of our consultants today to find out whether this type of plan makes sense for you or your client!