a powerful tax strategy for locum tenens
TRANSCRIPT
Locum Tenens… You Could Be Cutting Your Taxes Each Year While Building Your Retirement Nest Egg
With a little known, but high-impact, tax and retirement savings plan you may be able to save thousands in taxes every year.
Turn Self-Employment Income Into A Pension By Dec. 31 To
Beat The Fiscal Cliff
“If you’re self-employed, have had a good year, and want to sock away a lot for
retirement, take a lead from a tax pro who advises high net worth clients, and set up a
defined benefit plan by year-end.” Forbes Online, December 2012
A Pension Plan for the Self-Employed
“Solo pension plans are a great option for entrepreneurs, doctors, and real estate agents
who want to slash their taxes and turbo charge retirement savings.”
Kiplinger’s Retirement Report, August 2011
A Defined Benefit plan is a powerful tool for locum tenens physicians
With significant self-employment income, locum tenens are uniquely positioned to take advantage of these plans.
A Defined Benefit Plan: • Is an IRS approved, qualified retirement plan • Permits the highest tax-deductible contributions
of any retirement plan • Can enable you to rapidly build a large
retirement nest egg • May allow you to cut your tax bill by tens of
thousands of dollars every year
Many physicians are not aware of the advantages of Defined Benefit plans
Taxes Saved $22,500
Taxes Saved $69,300
Taxes Saved $84,400
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
401(k) Defined Benefit Plan DB Plan + 401(k)
Save Tens of Thousands in Taxes with a Defined Benefit Plan
A 52-year old business owner with an annual income of $450,000 can potentially cut his/her tax bill by $70,000 to $80,000 in a single year by forming a Defined Benefit Plan
*Assumes combined federal and state tax of 38%. Example is tax savings in comparison to no retirement plan.
Put a Defined Benefit plan to work for you
And quickly build retirement savings
Seven Year Road to a $1M Nest EggIn this example, a 50-year old small business owner puts $125,000 in a Defined Benefit Plan every year and builds a retirement nest egg of $1 Million by Year 7
$125,000
$256,250
$394,063
$538,766
$690,704
$850,239
$1,017,751
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7
Seven Year Road to a $1M Nest Egg A 50-year old small business owner could put $125,000 in a Defined Benefit Plan every year and build a retirement nest egg of $1 Million by Year 7
*Assumes a contribution every year and 5% growth
• Do you make at least $100,000 per year from locum tenens income?
Is a Defined Benefit plan right for you?
• Do you make at least $100,000 per year from locum tenens income?
• Are you 40 or older?
Is a Defined Benefit plan right for you?
• Do you make at least $100,000 per year from locum tenens income?
• Are you 40 or older?
• Are you willing to contribute $50,000 or more for at least 3 consecutive years?
Is a Defined Benefit plan right for you?
• Do you make at least $100,000 per year from locum tenens income?
• Are you 40 or older?
• Are you willing to contribute $50,000 or more for at least 3 consecutive years?
• Are you self-employed or have fewer than 10 employees?
Is a Defined Benefit plan right for you?
• Do you make at least $100,000 per year from locum tenens income?
• Are you 40 or older?
• Are you willing to contribute $50,000 or more for at least 3 consecutive years?
• Are you self-employed or have fewer than 10 employees?
YES?
Is a Defined Benefit plan right for you?
Take Two Minutes To See How Much You Could Save • With a just a few pieces of
information we can generate a complimentary proposal to fit your circumstances.
• Visit our Tax Savings Analysis, or • Learn more at: Defined Benefit Plans
We can help you save more of what you earn
.
• A veteran-owned Registered Investment Advisor
• We are an independent fiduciary committed to implementing the most effective retirement plans for our clients
• We provide a comprehensive and cost-effective solution for Defined Benefit plan owners that requires very little of their ongoing time and effort
• We walk you step by step through the process • Our pension plan administrators are highly
efficient and experienced; they are focused solely on designing and administering Defined Benefit plans
Why Orion?
Orion Capital Management LLC
• Founded Orion in 2002 • Peter has an extensive background in
crafting investment solutions for high-income clients in a wide variety of circumstances
• He has a passion for helping clients to protect their hard-earned income and does do by structuring customized retirement and investment strategies to minimize clients' tax burden while accelerating their retirement savings
• View Peter’s bio • Contact Peter directly at 619-435-1701 or
[email protected] • Visit us at Orion Capital Management LLC
Who is Orion?
Peter C. Thoms, CFA