Custom Manufacturing Industry podcast is an entrepreneurship and motivational podcast on all platforms, hosted by Aaron Clippinger. Being CEO of multiple companies including the signage industry and the software industry, Aaron has over 20 years of consulting and business management. His software has grown internationally and with over a billion dollars annually going through the software. Using his Accounting degree, Aaron will be talking about his organizational ways to get things done. Hi ...
…
continue reading
Content provided by Mike Jesowshek, CPA, Mike Jesowshek, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mike Jesowshek, CPA, Mike Jesowshek, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
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Supercharge Your Retirement with These Advanced Plan Options
Manage episode 426908947 series 2287541
Content provided by Mike Jesowshek, CPA, Mike Jesowshek, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mike Jesowshek, CPA, Mike Jesowshek, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
Are you maximizing your current retirement plans but still looking for more advanced strategies to secure your future and take care of key employees?
In this episode, Mike Jesowshek and retirement expert Matt Ruttenberg discuss advanced retirement strategies for business owners who have maximized basic retirement plans. They explore qualified and non-qualified plans, focusing on cash balance plans and deferred compensation plans, which offer significant tax benefits and flexibility. They emphasize the importance of tailoring retirement plans to individual business needs and revenue levels, highlighting the potential for substantial contributions and long-term tax advantages.
[00:00 - 04:41] Introduction and Overview
- Mike introduces the topic of advanced retirement strategies and welcomes Matt Ruttenberg.
- Matt explains that advanced retirement strategies are not for everyone.
- He introduces the concept of layering different retirement plans.
[04:42 - 10:18] Retirement Plan Stack and Qualified vs. Non-Qualified Plans
- Matt explains qualified plans, including cash balance plans and their benefits.
- He details the cash balance plan, its benefits, and its design for high contributions.
- He also introduces non-qualified plans, highlighting deferred compensation plans.
- What are the benefits of non-qualified plans for key employees and tax planning?
[10:19 - 17:22] Tax Code 7702 and Practical Considerations and Customization
- Matt explains Section 162 plans and the use of life insurance platforms.
- What are the benefits of tax code 7702 for long-term tax-deferred growth and tax-free withdrawals?
- Retirement plans can be customized based on business needs.
[17:23 - 22:51] Customized Retirement Plans and Non-Qualified Plan Benefits
- Matt explains the importance of qualified plan design and customizing retirement plans to fit individual business needs.
- Different levels of revenue unlock various plan options.
- What are the benefits of non-qualified plans for business owners and key employees?
[22:52 - 26:31] Common Misconceptions
- Matt addresses misconceptions about 401K plans.
- He shares the importance of understanding plan documents and options.
Direct Quotes:
"It's all about how you get the money out of the company and into these more advanced plan options." - Matt Rutenberg
"Not all 401Ks are created equal. It all comes down to the plan documents and how those are designed." - Matt Rutenberg
"Deferred compensation plans are often referred to as 'golden handcuffs' because they incentivize key employees to stay long-term." - Matt Rutenberg
______
Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
Join TaxElm: https://taxelm.com/
IncSight Packages (Full-Service): https://incsight.net/pricing/
Book an Initial Consultation (IncSight): https://app.simplymeet.me/o/incsight/sale
-------
Podcast Website: https://www.TaxSavingsPodcast.com
Facebook Group: https://www.facebook.com/groups/taxsavings/
YouTube: https://www.youtube.com
336 episoade
Distribuie
Manage episode 426908947 series 2287541
Content provided by Mike Jesowshek, CPA, Mike Jesowshek, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mike Jesowshek, CPA, Mike Jesowshek, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
Are you maximizing your current retirement plans but still looking for more advanced strategies to secure your future and take care of key employees?
In this episode, Mike Jesowshek and retirement expert Matt Ruttenberg discuss advanced retirement strategies for business owners who have maximized basic retirement plans. They explore qualified and non-qualified plans, focusing on cash balance plans and deferred compensation plans, which offer significant tax benefits and flexibility. They emphasize the importance of tailoring retirement plans to individual business needs and revenue levels, highlighting the potential for substantial contributions and long-term tax advantages.
[00:00 - 04:41] Introduction and Overview
- Mike introduces the topic of advanced retirement strategies and welcomes Matt Ruttenberg.
- Matt explains that advanced retirement strategies are not for everyone.
- He introduces the concept of layering different retirement plans.
[04:42 - 10:18] Retirement Plan Stack and Qualified vs. Non-Qualified Plans
- Matt explains qualified plans, including cash balance plans and their benefits.
- He details the cash balance plan, its benefits, and its design for high contributions.
- He also introduces non-qualified plans, highlighting deferred compensation plans.
- What are the benefits of non-qualified plans for key employees and tax planning?
[10:19 - 17:22] Tax Code 7702 and Practical Considerations and Customization
- Matt explains Section 162 plans and the use of life insurance platforms.
- What are the benefits of tax code 7702 for long-term tax-deferred growth and tax-free withdrawals?
- Retirement plans can be customized based on business needs.
[17:23 - 22:51] Customized Retirement Plans and Non-Qualified Plan Benefits
- Matt explains the importance of qualified plan design and customizing retirement plans to fit individual business needs.
- Different levels of revenue unlock various plan options.
- What are the benefits of non-qualified plans for business owners and key employees?
[22:52 - 26:31] Common Misconceptions
- Matt addresses misconceptions about 401K plans.
- He shares the importance of understanding plan documents and options.
Direct Quotes:
"It's all about how you get the money out of the company and into these more advanced plan options." - Matt Rutenberg
"Not all 401Ks are created equal. It all comes down to the plan documents and how those are designed." - Matt Rutenberg
"Deferred compensation plans are often referred to as 'golden handcuffs' because they incentivize key employees to stay long-term." - Matt Rutenberg
______
Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
Join TaxElm: https://taxelm.com/
IncSight Packages (Full-Service): https://incsight.net/pricing/
Book an Initial Consultation (IncSight): https://app.simplymeet.me/o/incsight/sale
-------
Podcast Website: https://www.TaxSavingsPodcast.com
Facebook Group: https://www.facebook.com/groups/taxsavings/
YouTube: https://www.youtube.com
336 episoade
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Similar cu Small Business Tax Savings Podcast
Custom Manufacturing Industry podcast is an entrepreneurship and motivational podcast on all platforms, hosted by Aaron Clippinger. Being CEO of multiple companies including the signage industry and the software industry, Aaron has over 20 years of consulting and business management. His software has grown internationally and with over a billion dollars annually going through the software. Using his Accounting degree, Aaron will be talking about his organizational ways to get things done. Hi ...
…
continue reading
We’re on a mission to uncover the science of self-made success. Join host Akua Konadu each week as she interviews some of the most brilliant minds in business—digging deep into the details and uncovering the strategies that turned entrepreneurial dreams into reality. The Independent Business podcast is powered by HoneyBook, the all-in-one platform for anyone with clients. Book clients, manage projects, and get paid faster with HoneyBook, and have business flow your way. Natalie Franke was th ...
…
continue reading
Each week, Another Bite breaks down the latest and greatest pitches from Shark Tank. It's practical business advice delivered in a fun way. All the substance of an HBR article, but fun. Hosted by Jorie Munroe, Ariel Boswell, and Jon Dick.
…
continue reading
Where startup founders raise millions and listeners can invest. Forget everything you think you know about the world of venture capital. Host Josh Muccio takes listeners behind closed-doors and into the room where deals are made. Part of the Vox Media Podcast Network.
…
continue reading
The Greatness Machine is on a Quest to Maximize the Human Experience! Join Award Winning CEO and Author, Darius Mirshahzadeh (pron. Mer-shaw-za-day), as he interviews some of the greatest minds in the world―turning their wisdom and experience into learnings and advice you can use in your life so that you can level up and create greatness. Join Darius as he goes deep with guests like: Moby, Seth Godin, Gabby Reece, Amanda Knox, UFC Ring Announcer Bruce Buffer, Former FBI Negotiator Chris Voss ...
…
continue reading
Bitcoin groundbreakers share personal stories of how Bitcoin is changing lives for the better. Host Mauricio Di Bartolomeo, co-founder and CSO of Ledn, speaks with leading Bitcoin voices, entrepreneurs, and human rights advocates to hear their unique journey and practical real-world examples of how Bitcoin has made a positive impact in their lives. Brought to you by Ledn, a leading financial services company built for Bitcoin & digital assets. Ledn offers a suite of lending, saving and tradi ...
…
continue reading
Kipp Bodnar (HubSpot’s CMO) and Kieran Flanagan (Zapier’s CMO), lead you down the rabbit hole of marketing trends, growth tactics and innovation. On the way you’ll pick up undiscovered strategies to give you that slight edge for success. These are not your typical twitter thread regurgitated marketing tactics that everyone is doing. These are new methods, with unfiltered examination of successful fresh ideas.
…
continue reading
In each episode of "Goldman Sachs Exchanges," people from the firm share their insights on developments shaping industries, markets and the global economy.
…
continue reading
Introducing The Unshakeables, a new podcast from Chase for Business and iHeartMedia's Ruby Studio. Small businesses are the heart and soul of this country, but it takes a brave individual to start and run a company of their own. From mom-and-pop coffee shops to auto-detailing garages -- no matter the type of industry you’re in, every small business owner knows that the journey is full of the unexpected. A single moment may even change the course of your business forever. Those who stand firm ...
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continue reading
1
Wholesaling Inc with Brent Daniels
Find distressed properties for pennies on the dollar and turn them for huge profits!
Let’s face it, Real estate education has lost the script. Everybody “claims” to have the secret sauce. They get you to sign up, get you to bite on a “magic” formula, but there’s no real tools to get there. There’s so much talk, no practical steps. It’s not instructional, it’s hype. The ideas aren’t focused on your success, it’s focused on theirs. Well, it doesn’t have to be that way. If you’ve been searching for a way to escape the rat race and achieve true financial freedom wholesaling real ...
…
continue reading
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