Cash balance plans, by profession.
The rules are the same for everyone, but how you are paid, how the business is set up and how the tax deduction treats your field all change the result.
- Cash balance plans for physiciansHow physicians with locum tenens, moonlighting or other 1099 income can use a cash balance plan, and when a hospital job or group practice changes that.
- Cash balance plans for CRNAsHow CRNAs paid on a 1099 or through an S corporation can add a cash balance plan, what counts as pay, and how a W-2 staff job fits in.
- Cash balance plans for veterinariansHow relief veterinarians and solo vets without staff can use a cash balance plan, including after selling a practice, and why clinic owners usually cannot.
- Cash balance plans for consultantsHow independent consultants use a cash balance plan: the S corporation salary decision, uneven income and the minimum contribution, and the QBI deduction.
- Cash balance plans for fractional executivesHow fractional CFOs, CMOs and CTOs can use a cash balance plan: contractor or employee, one client or several, and whether the work counts as consulting.
- Cash balance plans for software engineersHow independent software engineers and contractors can use a cash balance plan, what income counts, and why the QBI treatment depends on the work.
- Cash balance plans for attorneysHow solo attorneys, of counsel lawyers and arbitrators with 1099 income can use a cash balance plan, and why partners in firms with staff usually cannot.
- Cash balance plans for engineers and architectsHow engineers and architects practicing alone can use a cash balance plan, and why their QBI deduction, unlike most professions', survives at high incomes.
- Cash balance plans for financial advisorsHow independent financial advisors and solo RIA owners with no staff can use a cash balance plan, and what a falling market does to both sides of it.
- Cash balance plans for accountantsHow solo CPAs and tax preparers can use a cash balance plan for their own practice, and what to check when a client asks about one.
- Cash balance plans for real estate agentsHow commission-paid real estate agents and brokers with no staff can use a cash balance plan, and how to plan around commissions that swing.
- Cash balance plans for corporate directorsBoard fees are self-employment income, so they can fund a cash balance plan. How directors with several boards or a day job can use one.
- Cash balance plans for authors and creatorsHow authors, course creators and online creators with royalty, sales or sponsorship income can use a cash balance plan, and which income counts.
- Cash balance plans for actors and performersHow actors, musicians and performers with a loan-out corporation can use a cash balance plan, and why the loan-out's payroll must be done by December 31.
Find your own number.
Answer a few questions about your business to see what you could put away this year and what it would save you in tax. About three minutes.
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