We will explore the various types of retirement accounts available for business owners that are S-Corps, LLC’s, and sole proprietors. Once identified, we detail the different tax advantages for each of those accounts and their nuances to consider when there are two or even three choices available at the same time. Lastly, we will review the different types of annuities and how to discern if including an annuity is an appropriate piece to consider for your retirement plan.
Objectives, by the end of the presentation, you will be able to:
- Identify the six different types of Qualified Retirement Accounts and their respective contribution limits;
- Determine your current tax bracket and from those six Qualified Retirement Accounts available, you be able to select and implement the one(s) that is most tax advantageous for your current financial situation;
- List the three primary types of annuities; know where to look for fees, expenses, and guarantees that are offered and from that information determine if an annuity is suitable for your retirement plan
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