Keep More of Your Money: The Tax Strategy Most Business Owners Miss

In this episode, Hugh McPherson sits down with Chris Roehm, a seasoned financial strategist specializing in retirement planning for small business owners and self-employed professionals. Chris has helped hundreds of entrepreneurs, farmers, and agritourism businesses maximize retirement savings, reduce tax liabilities, and create long-term wealth strategies tailored to their unique business structures.

Together, they explore cash balance retirement plans—a powerful, often overlooked tool that allows business owners to save aggressively for retirement while minimizing taxes. You’ll learn how these plans differ from traditional retirement accounts, how to structure them to match your profits, and practical steps to implement them with your CPA and financial advisors.

What you’ll discover in this episode:

• How cash balance plans work and why they can outperform traditional 401(k)s

• Why profitability and paying yourself a reasonable salary are key

• Tax savings opportunities and financial aid strategies for families

• Flexible plan design options tailored to your business

• Eligibility, contribution limits, and year-end planning considerations

• How to coordinate with CPAs, attorneys, and financial advisors

• Real-life examples of business owners saving hundreds of thousands

⏱Timestamps:
00:00 – Introduction: Why farmers and small business owners overlook retirement planning
02:10 – Chris Ream’s background and expertise in retirement strategies
03:16 – The link between profitability and retirement savings
04:03 – Using cash balance plans in financial aid planning
05:17 – Example: $385,000 saved in college aid
06:41 – Tax savings and income phase-outs affecting college aid
07:51 – History and evolution of cash balance plans
09:27 – Structuring plans for self-employed and small business owners
10:04 – Origins and benefits of cash balance plans
11:42 – Contribution limits and setup considerations
13:37 – Why these plans are rarely discussed
15:36 – How recent laws increased popularity
17:02 – Funding strategies and long-term growth potential
19:11 – Diversification and risk mitigation
20:38 – Planning for taxes and future income brackets
22:24 – Incorporating plans into estate and business succession
23:57 – Risks entrepreneurs face and how these plans provide safety
25:11 – Importance of early involvement with tax and legal advisors
28:27 – Evaluating if a cash balance plan is right for you
31:50 – Timing setup before tax deadlines
33:47 – Entity types eligible for cash balance plans
36:05 – Importance of reasonable salary for deductions
39:28 – Preparing for implementation over the next few years
45:04 – Age flexibility and planning options
48:52 – Planning for different future tax brackets
50:38 – Aligning retirement strategy with business growth
52:23 – Final thoughts and actionable next steps

Want to connect with Chris or see if a plan fits your business?
Chris works with small business owners, farmers, and entrepreneurs to design customized retirement and tax strategies. Many business owners start with a short, no-obligation consultation to determine if a cash balance plan aligns with their goals.

👉 Try our FREE survey https://besureassessment.com - then book a 5min call with Chris directly at https://calendly.com/chrisroehm

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