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Our Company A 412(i) plan is a variation of the traditional company pension plan. These plans are designed specifically to maximize the current deduction available to a company or an individual with a sole proprietorship. These plans are within the IRS guidelines and have been in use since the 1960's. If a business owner seeks to deduct the maximum amount of money from their income as a retirement contribution, plans to continue making plan contributions in at least the same amount and has limited employees, the 412i plan may be the correct solution. Here is an example: A 45 year old Physician earns $400,000 annually on a Schedule C for consultation that he provides pharmaceutical companies. He has no other employee other than himself. Using a traditional SEP on his Schedule C, in 2004 he could have contributed $40,000. Difference in pre-tax investment for retirement - $160,000 412i plans are wrought with rules and actuarial calculations. First Financial Group works with Guardian, their 412i design team, and administrators to implement compliant plans that meet clients' long range objectives.
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 Business Continuation Employee Benefits Executive Compensation Retirement Plans Etc. |
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