Business owners tend to have four major types of assets on their balance sheets. In most cases, the business tends to represent the largest asset they own, and the majority of their net worth. Real estate, including business and personal, typically represents the second largest asset listed. Next, business owners look to non-qualified savings for liquidity to address emergencies, opportunities or the unknown. 

In this episode, we discuss the option not listed above and somewhat disregarded in terms of tax-efficiency: qualified retirement plans. Ernie Guerrero, Director of Qualified Plans at Consolidated Planning, Inc. discusses with us the logic behind using these assets in an effective manner to save, overfund, and layer additional tax-deferred plans to save hundreds of thousands of dollars each year, while reducing taxable income in a strategic way. 

For any business owner that would like to learn more about effective savings strategies while reducing taxes each year, this is the episode for you!

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Michael and Ernest are Registered Representatives and Financial Advisors of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representatives of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Huskey Financial Group LLC and CP Planning Group, Inc. are not an affiliate or subsidiary of PAS or Guardian. 2021-131529 Exp 12/23