Carry Learning Center

If you’re a high earner making mid to high six figures, the standard contribution limits of a 401k or Solo 401k may feel restrictive. You might be looking for ways to lower taxable income while setting aside more for retirement. A cash balance plan could be the answer. This type of plan is different from the [...]

For many professionals and business owners, traditional retirement accounts like a 401k or IRA can feel limiting. Contribution caps often make it hard to save at the level needed to maintain your lifestyle in retirement. That’s where defined benefit plans come in. Instead of focusing on how much you put in each year, these plans [...]

Retirement plans often come with clear annual contribution caps, but cash balance plans work differently. Instead of focusing on a set yearly limit, these plans aim for a predetermined balance at retirement age. That structure makes them especially attractive for high-earning business owners who want to save more than traditional defined contribution plans typically allow. The [...]

Cash balance plans allow high-earning business owners to make some of the largest tax-deductible retirement contributions available. But the IRS enforces strict annual deadlines. Missing these dates could mean losing deductions or facing costly penalties. Here’s a clear breakdown of the 2025 plan year deadlines — including adoption timing, filing extensions, reporting rules, and penalties — [...]