First, I'll admit, boiler plate tax deferred retirement plans are not my favorite strategy for business owners. Too often they are put together last minute as a way to defer some income at the end of a tax year. Sound familiar?

This Super 401k, or Super 401(k),  strategy is not for business owners looking to defer smaller amounts of income ($10,000-$30,000).

Who Benefits Most from the Super 401k?

Prime candidates for the plan are looking to defer over $100,000 per year. Additionally, many of them are using this strategy as a way to bring down their taxable income below $315,000. Consequently,  they would qualify for the new 20% pass-through income deduction that came out of the new Trump tax law.

In this example, not only can you defer upwards of $300,000 income. But you can also DEDUCT 20% of qualified business income.

Tax payers in the 37% tax bracket deferring $300,000 save over 100k! If they also qualify for the 20% QBI deduction, they would save over $134,000 in taxes!

The Super 401k is one the go to strategies outlined in our maxxed out guide. The Business Owners Guide to Serious Tax Deductions.

You can get it here: The Business Owners Guide to Serious Tax Deductions(need to link)

Best of all, the Super 401k can be combined with the other strategies outlined in the guide above. Successful business owners with excess cash can defer Millions of dollars per year in taxes!

Not only can you defer money, but also collect on tax credits often overlooked. This can result in hundreds of thousands of dollars of extra cash flow.

If you have a qualified plan in place already you shoudl consider a super 401k. It will allow yo defer more money and will blow your current qualified plan out of the water.