DDK’s Tax Partner, Bruce Pritikin, gives valuable insight to businesses on little known tax breaks.
“For a profitable business, the last significant tax shelter around is a defined benefit pension plan,” says Bruce. While many business owners automatically think retirement plans will be too expensive, the use of these plans often do benefit the owners tremendously, according to Bruce. “It’s not unusual to have over 90 percent of the funding go for the owners.”
Read more about the advantages to have a defined benefit pension plan in this week’s Long Island Business News.
