Cadence Wealth Partners

Tired of overpaying the IRS? Discover 5 smart tax strategies—entity selection, smarter compensation, deductions, retirement plans, and year-round planning—to keep more of what you earn.

You Hate Taxes? Good! Let's Do Something About It

"I already have a SEP - I think I'm good." They weren't. And it was costing them thousands. 👇

A new client who owns a real estate brokerage came to us thinking they had things optimized with their investment advisor.

👉 Paying themselves $75k
👉 Taking the rest in distributions
👉 Funding a SEP IRA on the advice of the investment advisor
👉 Filing as an S Corp to save on self-employment tax

Sounds smart, right?

It was… but it wasn't optimized.

Here’s what we uncovered:

1️⃣ The SEP IRA was limited to $18,750 — no employer contribution
2️⃣ The low salary meant a low QBI deduction: $37,500
3️⃣ Backdoor Roth? Blocked (thanks to the pro-rata rule)

And here’s what we did:

✅ Increased salary to $129,268
✅ Set up a Solo 401(k) for them and their spouse
✅ Moved the SEP and other IRA balances into the new Solo 401(k)s
✅ Enabled full employee Roth contributions into the Solo 401(k)
✅ Maxed out employer contribution: $32,317, in this case
✅ Increased QBI deduction to $64,634
✅ Opened the door to the Backdoor Roth (no pun intended)

❗The downside? Their Self-employment tax increase by about $8,300

What did they get in return?
-Total tax-advantaged contributions: $78,317.
-Increase in QBI deduction: $27,000.
-More to Social Security
-Tax strategy? Optimized.
-Coordinated with CPA for a team approach.

When you know the rules, you can play the game better.
When you plan proactively, you stop leaving money on the table.

📊 This is the kind of planning business owners think they're getting — but often aren't.

📌 If your financial plan stops at “SEP IRA and S Corp,”
It’s time to dig deeper.

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Financial Goal Setting for the New Year