Concerned About Rising Taxes?
Make Sure You Don't Miss This Great Opportunity to Reduce Taxes and Increase Retirement Savings
Using Tax-Qualified Retirement Plans.
Under a combination of a defined benefit plan and a 401(k) plan, 2009 deductible amounts for a sole proprietor are illustrated below.
Approximate 2009 Maximum Tax-Deductible Contributions
(a)
Attained Age
in 2009 |
(b)
Defined Benefit
Plan Maximum |
(c)
Profit Sharing
Plan |
(d)
401(k) Salary
Deferral Plan |
(e)
Catch-up
Contribution |
(f)
Maximum Total:
(b)+(c)+(d)+(e) |
30 |
46,400 |
14,700 |
16,500 |
-0- |
77,600 |
35 |
64,000 |
14,700 |
16,500 |
-0- |
95,200 |
40 |
88,600 |
14,700 |
16,500 |
-0- |
119,800 |
45 |
123,600 |
14,700 |
16,500 |
-0- |
154,800 |
50 |
172,300 |
14,700 |
16,500 |
5,500 |
209,000 |
55 |
238,700 |
14,700 |
16,500 |
5,500 |
275,400 |
60 |
260,900 |
14,700 |
16,500 |
5,500 |
297,600 |
65 |
297,400 |
14,700 |
16,500 |
5,500 |
334,100 |
If you would like to learn more or would like to receive a free consultation for developing a contribution strategy and plan design that helps you realize your tax and savings objectives, call DeSales Associates toll free at (888) 595-3940 and ask for Julius Smetona.
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