Implementing and managing defined benefit plans can be complex, requiring professional guidance and expertise. However, when planned and executed correctly DBPs can provide significant tax savings and retirement benefits. Financial advisors, actuaries, and tax consultants can provide the necessary knowledge and support to navigate the intricacies of these plans, ensuring compliance and maximizing the tax-savings potential for S Corporations. Please consult with your advisory team especially your financial advisor to determine the viability of a DBP for your business.
s corporations
5 Things Every S Corporation Owner Should Know
There are few things in the tax world that have as much misunderstanding and misinformation than S Corporations. S Corporations can help small businesses achieve various goals but only if set up and administered correctly with a good understanding of the tax law. Below are 5 things every S Corporation owner should know, and should have known prior to being taxed as an S Corporation.