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Self Employed Defined Benefit Plan

Submitted by rob_susie33@hot... on 10 August 2008 - 11:45am

I am earning self-employment income aside from my regular job, and I have set up my own Defined Benefit Plan. I will contribute about $50,000 per year for the next five years, tax-deferred. I also take a take write-off for it going in. Then I receive it at age 60 or so as a pension. How should I model this in ESPlanner? My approach would be to report in ESPlanner the self-employment income as a net profit (total receipts minus business expenses including contributions to the plan), then report this as a pension under Pension and Annuities.

‹ Defined Benefit- Level Income Annuity Pension COnfused about entering an annuity ›
Submitted by Laurence Kotlikoff on 10 August 2008 - 7:43pm.
1

HI, WHAT YOU PROPOSE BELOW IS JUST FINE. BEST, LARRY

I am earning self-employment income aside from my regular job, and I have set up my own Defined Benefit Plan. I will contribute about $50,000 per year for the next five years, tax-deferred. I also take a take write-off for it going in. Then I receive it at age 60 or so as a pension. How should I model this in ESPlanner? My approach would be to report in ESPlanner the self-employment income as a net profit (total receipts minus business expenses including contributions to the plan), then report this as a pension under Pension and Annuities.

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