The Tax Cuts and Jobs Act has created some significant tax breaks for a lot of business owners through the QBI (Qualified Business Income) deduction. The catch is that if your income is over a certain threshold and you have a service business, you’re going to have a very hard time qualifying for this QBI deduction.
In today’s video, I’m showing you a very powerful strategy that will help you qualify for the QBI deduction… even if you struggled to or didn’t qualify last year!
- What is the new Qualified Business Income deduction & how does it work?
- Why a Cash Balance Plan can help profitable service businesses qualify for the QBI deduction
- How you can “stack” 401k, profit sharing, and Cash Balance Plan contributions to get a 6-figure tax deduction!
Click here to watch the full video.
The Cash Balance Plan is a beautiful thing and after watching this video, you’re probably asking yourself “is the cash balance plan right for me?” It’s not an easy question to answer because even though this is a powerful retirement saving and potentially tax reducing vehicle for retirement, there’s not a black and white answer. There are a lot of little nuances and a number of factors to consider when you’re thinking about a Cash Balance Plan.
You will want to check a few boxes before you go down the path of the Cash Balance Plan to see if it’s a good fit for your business. I can tell you after 3 questions whether this is something that you should seriously consider.
Schedule your free 15-minute call to find out >>>https://bit.ly/2y85PTq
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