HIGH PLAN CONTRIBUTION
• Age: Thomas, Age 60
• Recent yearly Schedule F income: $625,000
• Business structure: Sole proprietorship
• Employees: 1
• Plan contribution: $500,000
• Notes: (NONE)

 

Estimated tax savings: $150,000


MEDIUM PLAN CONTRIBUTION
• Age: Joe and Karen, 58 and 57
• Recent yearly Schedule F income: $306,000
• Business structure: Sole proprietors
• Employees: None
• Plan contribution: $125,000 each ($250,000 total)
• Notes: The couple has significant non-farm income

 

Estimated tax savings: $89,000


LOW PLAN CONTRIBUTION
• Age: John and Lisa, 67 and 62
• Recent yearly Schedule F income: $125,000
• Business structure: Sole proprietorship
• Employees: 2
• Plan contribution: $50,000 each ($100,000 total)
• Notes: (NONE)

 

Estimated tax savings: $78,000


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all go to taxes