
Wealth in Waves Origin Show!
Welcome to Episode 1 of the Wealth in Waves Podcast, a show dedicated to all you busy folks out there making happen along the Gulf Coast!
Welcome to Episode 1 of the Wealth in Waves Podcast, a show dedicated to all you busy folks out there making happen along the Gulf Coast!
If you’re a business owner that is looking to sock money away, what are your options? Should you consider a SEP IRA? Or a 401k? What is profit sharing? What is safe harbor? What is the best retirement plan for a business owner?
Normally the show topics are evergreen, but Will, Jay and Josh all felt that with a possibly historic election just days away, they would record some of their thoughts before the final outcome is known.
The primary business owner can potentially sell company stock in a tax-free manner to the employees and there are potential tax savings related to lack of income taxes paid at the corporate level with an ESOP.
Non Qualified Deferred Comp is a way to offer additional benefits to incentivize your key employees to stay loyal to the company, while providing some element of control for the provider of the plan.
We discuss why a business owner would consider a Defined Benefit Plan and how a business owner with a fully funded 401k can layer a Cash Balance Plan on top to provide additional future retirement income.