SAN FRANCISCO--(EON: Enhanced Online News)--With the growing gig economy, there are more high income self-employed people than ever. Many self-employed people often don’t plan for unexpectedly high taxes, but a defined benefit retirement plan can help reduce taxes and build savings.
“Many people don’t think about retirement plans until March or April, but if they wait that long they are limited to a SEP, which allows considerably less money to be contributed than what you can put in a defined benefit plan.”
Dedicated Defined Benefit Services, the leading provider of defined benefit plans for individuals with self-employment income, offers a Quick Adoption process that allows clients to open a defined benefit plan that still can provide clients huge 2016 tax breaks if they act before year-end.
“Defined benefit plans require a certain amount of plan design and usually providers can’t get that done in the last couple weeks of the year,” says Richard Collins, President of Dedicated Defined Benefit Services. “We are specialists in this field. We have a special way of making the process work so we can get a plan established by Dec. 31st and then customize the design to meet clients’ objectives.”
Clients can invest plan contributions in any marketable securities, such as stocks, bonds, ETFs, mutual funds and annuities. The IRS-approved plans also allow the highest tax-deductible contributions – averaging $100,000 plus each year. Unlike other plan providers, Dedicated DB charges no rush fees.
For high income self-employed individuals such as physicians, consultants, contractors, realtors, and small business owners from all geographic areas in the U.S., defined benefit plans are a good retirement vehicle to save on taxes -- and put money away.
“A lot of people are surprised to learn about DB plans and delighted when they set one up and see how it can work for them,” Collins says. “Many people don’t think about retirement plans until March or April, but if they wait that long they are limited to a SEP, which allows considerably less money to be contributed than what you can put in a defined benefit plan.”
If you’re interested in a plan, visit Dedicated DB’s website. www.Dedicated-DB.com