Neiffer: Farmers looking to retirement may want to consider a cash balance plan

As farmers approach retirement, extra income taxes may be owed on the built-up grain holdings they sell in their final year. One option to help reduce the burden is the use of a cash balance plan.

Paul Neiffer with Clifton Larson Allen spoke with RFD-TV’s own Janet Adkison on details of this plan, drawbacks, and how long it should be in place.

For more information, click HERE

Related:

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University of Nebraska offers retirement planning advice

Farmers need to keep “earning tests” in mind when preparing for retirement






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