Terry Register Discusses Mastering Tax Mitigation Strategies for Business Owners
Listen to the interview on the Business Innovators Radio Network: Interview with Terry Register- CEO of Capsur Tax and Estate Planning- Tax Mitigation Strategies for Business Owners – Business Innovators Radio Network
In this episode of Influential Entrepreneurs, host Mike Saunders welcomes back Terry Register, CEO of Capsur Tax and Estate Planning, to discuss tax mitigation strategies for business owners. Terry emphasizes the importance of understanding tax planning and shares insights on common mistakes that successful entrepreneurs make. He highlights the significance of maximizing retirement contributions and encourages listeners to be proactive in their tax strategies. With a focus on foundational ideas, this episode serves as a valuable resource for business owners looking to enhance their financial planning and avoid costly pitfalls.
Business owners often underestimate the significance of maximizing their retirement contributions, resulting in missed opportunities for tax benefits and long-term financial growth. It is essential to understand the various retirement plans available, such as mega Roth IRAs and cash balance plans, to effectively mitigate taxes and accumulate wealth.
Many business owners fail to contribute adequately to their retirement plans. Some may only contribute enough to meet employee benefit requirements, while others may not contribute at all, thereby missing out on valuable tax advantages. Terry Register emphasizes that maximizing retirement contributions is a crucial strategy for business owners, not only to secure their financial future but also to enhance employee retention and satisfaction.
One of the standout options for retirement savings is the mega Roth IRA. This strategy allows individuals to contribute significantly more than traditional Roth IRAs, depending on their income and age. For example, individuals exceeding a certain income threshold can contribute up to $170,000 per year into a mega Roth IRA. The benefits of this strategy include:
- Tax-Free Growth: Contributions grow tax-free, and qualified withdrawals after age 59½ are also tax-free, provided the account has been open for at least five years.
- High Contribution Limits: The ability to contribute large sums can significantly enhance retirement savings, especially for high-income earners.
However, many business owners are unaware of this option or do not fully understand how to implement it effectively, leading to the underutilization of a powerful retirement savings tool.
Another effective retirement strategy is the cash balance plan, a type of defined benefit plan. This plan is particularly advantageous for business owners earning over $400,000 a year. The cash balance plan allows for substantial contributions based on age and income, providing a structured way to save for retirement while enjoying tax benefits. Key features include:
- Defined Benefits: Unlike traditional retirement plans that depend on investment performance, cash balance plans offer a guaranteed benefit at retirement, appealing to business owners seeking stability.
- Tax Deductibility: Contributions to cash balance plans are tax-deductible, significantly reducing taxable income for the business owner.
By strategically utilizing these retirement plans, business owners can secure their financial future while creating a more attractive benefits package for employees, thereby enhancing retention and overall business performance.
Terry shared: “We serve as a trusted partner to closely held businesses—delivering smart, personalized planning that helps reduce taxes, retain key employees, and preserve wealth across generations”
About Terry Register
As President of Capsur Tax and Estate Planning, Terry Register leads with a clear and focused mission: to help business owners, high-income professionals, high-net-worth individuals, and closely held corporations navigate the complexities of tax planning, retirement strategy, estate structuring, and legacy preservation. Through personalized service and strategic insight, Terry delivers solutions designed to build long-term financial confidence and multigenerational impact.
Terry began his distinguished career at Fidelity Union, earning “Rookie of the Year” honors and qualifying for the Million Dollar Round Table (MDRT) in his first year. He later joined American Defender Life, where he consistently ranked among the top ten producers nationwide and earned annual recognition in the President’s Cabinet.
He founded Capsur with a vision to offer programs and planning strategies that empower individuals and businesses to reach their financial, retirement, and legacy goals. Today, he continues to work collaboratively with professionals and clients across the country on high-value joint cases that demand tailored and sophisticated solutions.
