Aloha Maui CPA’s

Section 79 Permanent Plans

Aloha from Business Planning Group. We are a national Third Party Administrator (TPA) for tax-advantaged, Section 79 Permanent Insurance Plans. We work with you and your clients in the creation of IRS compliant plans that provide clients with tax-advantaged contributions, tax-deferred growth, protection for their families and assets during their working years and finally, tax-free distribution upon retirement.

We’re in your area

We service Maui, Hawaii and we will be in Maui from Monday April 20th through Friday, April 24th, 2015. Let’s connect and see if a tax-advantaged Section 79 plan is right for your clients. What works best for you?

About Section 79 Permanent Plans

Section 79 Plans are a part of the employee benefit section of the IRC and includes benefits that are offered to employees at virtually all companies. In the Section 79 Permanent insurance plans, participants can make plan contributions as high as 75% of their annual W-2 earnings based on the Section 79 guidelines. Here are some of the important features of this available benefit:

  • Plan contributions are 100% deductible to the corporation as an employee benefit.
  • Plan participants can partially fund their plans with pre-tax earnings (this reduces gross income and current income tax liabilities).
  • Contributions will reduce participant’s income and also lower payroll taxes for both the participant and organization.
  • Plans grow on a tax-deferred basis during the working years.
  • Unlike 401k plans, Section 79 Permanent Insurance plans allow for IRS penalty-free access to funds before age 59½.
  • Permanent plans include a tax-free death benefit for surviving beneficiary(ies).
  • Distribution may be made on a tax-free basis.

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