Maximizing Owners' Retirement Plan Benefits

Financial Institutions

September 01, 2015
by Robert Buss, Jr., CPA, CEBS

Bookmark and Share
Robert Buss, Jr. Robert Buss, Jr., CPA, CEBS
Executive Director of Benefit Services

View Profile

A common goal of owners of profitable, closely held small businesses is to minimize income taxes and save for retirement.  Given its flexibility as a tax savings vehicle for the owners and employees of the business, the 401(k) retirement plan is a popular choice.  Oftentimes these plans do not allow business owners to contribute as much as they would like on their own behalf.  A possible solution may be to add a safe harbor 401(k) and cross-tested profit sharing allocation to their plan, perhaps combined with a cash balance plan.

Average Rating:

Length: 2 pages (PDF 62 kB)


Related Insights

Don't Lose Sight of the Small Stuff
Financial Institutions | May 01, 2011

FDIC Assessment Changes
Financial Institutions | May 01, 2011

Rate this Article
*  =  required fields
Your Rating*
E-mail Address*