Wealth tools still available as another year ends
As we approach the end of another year, those who have procrastinated in setting up owner or professional benefit plans will again have the opportunity next year.
Considering the results of this year’s election (and if we are to believe the incoming administration), tax rates will increase for high income earners.
One efficient tool left in the arsenal is the one that decreases tax liabilities by turning what would otherwise be tax payments into deductible pension plan contributions. By turning tax liabilities into investment capital, creates massive new investment capital quite literally overnight.
With the recent financial losses all business owners and professionals need to utilize every tool at their disposal if they are to create or regain wealth in anticipation that one day when they’ll retire.
Good luck and I hope to hear from you next year!