Dear Business Owner, Is your business paying too much income tax? Are you looking for a very large retirement plan contribution to help you save for your retirement? Are you aware of 412(e)(3) Defined Benefit plans? These plans allow for the largest possible deductions to a small business retirement plan. These plans are particularly suited for independent contractors who have few or no employees. They are designed to maximize the deduction for the older small business owner to enable him to accumulate funds for his retirement in a very short period of time. Maximum First Year Deductions Available at Selected Ages: Annuity Only Maximum Life Insurance & Annuity Age 40 $103,034 $114,783 Age 45 $136,807 $159,295 Age 50 $198,810 $243,630 Age 55 $244,657 $322,032 Note: The contributions above are based upon the guaranteed annuity purchase rates,the guaranteed insurance cash values, and the guaranteed annuity accumulation rates of American National Insurance Company 412(e)(3) qualified life and annuity products. The numbers assume the business owner at the selected ages has earnings of at least $205,000, 2014 and a retirement age of 62. Do you have any clients with over-funded Defined Benefit plans? Did you know they may lose 90% or more of the excess assets to taxes and penalties upon termination of the plan when the assets revert to the corporation? Did you know that 412(e)(3) plans may be the only viable solution to the problem? These plans are not a “grey area” and have been in existence for more than 35 years. The IRS created special code section 412(e)(3) for these plans to exempt them from many of the requirements of traditional defined benefit plans since an insurance company must guarantee the plan benefits. I would like to arrange an appointment to see if you if you would like to know more about these specialized plans. These plans are ideally suited to certain unique situations in many small businesses and yet are not well known. I’m looking forward to speaking to you in the near future. Sincerely, Angelo Iannello Income Specialist Senior Financial Solutions 877 570-5585
Posted on: Thu, 20 Mar 2014 19:05:16 +0000
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