Business Deduction Planning for Professionals & Entrepreneurs
Keep More of What You Earn—Legally and Strategically
If you're a high-earning professional, contractor, or small business owner, understanding how to reduce your tax liability can have a major impact on your long-term wealth. At Benefit Consultant Inc, we help clients in across Southern California make the most of available deductions by aligning their business structure, expenses, and retirement contributions with IRS-compliant strategies. Our goal is simple: help you keep more of your hard-earned income while planning intentionally for the future.
What We Do
Smarter Tax Strategies for Business Owners & Independent Contractors
We take a proactive, educational approach to business deduction planning. That means showing you what’s possible—not just what your accountant reports after the fact. Whether you’re self-employed or running a growing business, we’ll help you explore tax-saving opportunities that also support retirement, employee benefits, and long-term wealth goals.
Executive Bonus Plans
A compensation strategy where a business funds a life insurance policy for a key employee as a bonus. It helps attract and retain top talent while offering tax advantages to the employee.
Buy-Sell Agreements
A legally binding plan that outlines how business ownership will be transferred if an owner dies, becomes disabled, or exits the business—often funded with life insurance to ensure a smooth transition.
Health Insurance & HSA Contributions
Business owners may be eligible to deduct health premiums and contribute to tax-advantaged Health Savings Accounts. We’ll help you understand how to use both as part of your broader plan.
Retirement Contributions as Deductions
From SEP IRAs to Solo 401(k)s, retirement plan contributions are one of the most powerful ways to reduce taxable income while saving for the future.
Life & Disability Insurance Planning
Some business-related insurance policies may be partially deductible or used to support succession and income continuity. We help you understand where insurance fits into your tax strategy.
Business Tax Questions We Hear All the Time
Can I deduct life or disability insurance for my business?
In some cases, yes—especially for policies that protect key employees or are tied to business continuation. We’ll help you determine which policies may be deductible and how to structure them.
What’s the best retirement plan for tax savings?
It depends on your income, goals, and whether you have employees. SEP IRAs, SIMPLE IRAs, and Solo 401(k)s can all offer significant deductions. We help you compare options and implement the right one.
Do I need to switch from an LLC to an S-Corp?
Possibly. S-Corps can offer substantial tax savings on self-employment tax, but they also involve stricter rules. We’ll help you evaluate the pros and cons based on your specific financial picture.
What are the most overlooked deductions?
Home office expenses, equipment depreciation, continuing education, and retirement contributions are frequently underutilized. We help ensure you’re capturing what you’re legally entitled to claim.
Will this replace what my CPA does?
No—we work in partnership with your accountant to build strategy. Our role is to guide the financial planning that supports better tax outcomes before tax season even starts.
