Cash-balance plans offer break to small-business owners

Are you a small, highly profitable business owner looking for ways to reduce your current taxes and/or dramatically step up your tax-sheltered retirement savings?  If so, a cash-balance plan may be worth looking into for your company.

A cash-balance plan is a retirement savings vehicle, crafted with the small-business owner in mind. When combined with a safe harbor 401(k) or profit-sharing plan, it can allow you to make significant, tax-deductible contributions to your own and partners’ retirement savings, while controlling the costs of your contributions to employee retirement accounts. “Significant” may be up to $200,000 or more annually,…