Retirement Planning

You work hard day in and day out to establish and grow a highly-successful and profitable business. And strategically using retirement planning can be the key that unlocks a new door to success.

The experts at MB Group offer years of experience partnering with financial planners to develop tax-advantaged retirement strategies for small businesses and high net worth individuals. Our team of CPAs and accounting professionals will do the heavy lifting, so you can focus on achieving the next plateau of success. Continue reading to learn more about the benefits and different types of small business retirement services.

Create A Competitive Advantage With Business Tax Planning

Small business retirement planning can create a win-win scenario for your employees and your business. While every business scenario can vary, you’ll typically enjoy the following benefits of retirement planning:

Enjoy A Tax Benefit

The costs of starting a company retirement plan may be fully tax-deductible. All contributions you make to your employee’s retirement account can be tax deductible as well. This is something to highly consider during tax planning.

Shelter Your Income

Because you are an employee of your company, contributions you make to your own retirement plan may be tax-deductible, which can allow you to shelter more of your income.

Pass Tax Savings Onto Employees

If your retirement plan allows your employees to make contributions to their account, they will do so with pre-tax dollars, which reduces net taxes at the end of the year.

Gain a Recruiting & Retaining Edge

Ensure your business can recruit and retain top talent by offering a competitive retirement plan solution.

Retirement Planning Strategies

The benefits your business realize will depend on the type of retirement plan you establish for your company. The experts at MB Group will work closely with you and your financial planner to explain all of your options while weighing the pros and cons of each type. Let’s take a closer look at the different types of retirement plans:

Simplified Employee Pension IRA

The Simplified Employee Pension (SEP) Individual Retirement Account (IRA) is a simple but valuable way for small business owners looking to offer a retirement benefit. Through this plan, you can make tax-deferred retirement contributions on behalf of each employee. Because this plan does have relatively low contribution limits, it can be excellent for sole proprietorships and partnerships.

Safe Harbor 401(K)

A Safe Harbor 401(k) plan is a type of 401(k) with certain built-in elements — like a guaranteed employer match — that makes the plan exempt from nondiscrimination testing. Nondiscrimination testing is one of the biggest hurdles for business owners looking to offer a traditional 401(k) plan.

Defined Benefits Plan

Defined benefit plans or pension plans are when employers sponsor the retirement plan for the employee. The benefits are computed using a formula that implements several factors, such as salary history and employment. The benefits in a defined benefit pension are unique in the employee and employer know the formula for calculating benefits and are used to set and define the benefit paid out.

Split Dollar Life Insurance

Contrary to the name, split-dollar is less of a type of insurance and more of a contract. In this plan, you and an employee will create a written agreement that highlights how the parties will share the costs, death benefit, and cash value of a permanent life insurance policy.

Jason K. Burress

2022-04-21

I feel very well cared for by Susan Bryant and her team since moving my business over to MB Group. I'm impressed by the amount of personnel with varying skillsets and expertise they have deployed for my account. I also feel they have my interests in mind and Susan appears very well organized.

Edwin Hernandez

2021-12-20

I first started using the MB Group at my prior company around 2008. I became used to the great professional service and most of all, the impressive competence of their team. When I started my current company, I never gave consideration to any other firm as I have 100% confidence and assurance all of my company's need would be met to my satisfaction. I value the relationship and ever so glad to have zero concerns over this important function of my business, and I owe it all to the great team at The MB Group. Edwin Hernandez Lukare Medical, LLC

M P

I cannot say enough about the firm and Janet Haston and everyone on staff. They are so attentive and responsive. They go out of their way to answer my questions and bend over backwards to make themselves available. I have complete trust their advice and they have always educated me in the process. Anytime anyone asks me for a referral, I don't hesitate to refer the MB Group. I am a client for life. I even sent my mother to them!

Cheryl Massey

2021-12-17

My over a decade relationship as a client with MB Group, LLC has always been pleasant, efficient, and highly successful. They have always understood my needs and I can't imagine working with another company.

Mike Haynes

2021-12-16

We have used The MB Group for both accounting services and corporate & individual tax services for several years now. The entire group is professional and very responsive. They are a true, valued partner. They have been critical to the success of our business.

Garrett Voegeli

Y’all are great! I really appreciate your approach on tax planning and accounting. You have been a huge asset to my business. I would highly reccomend.