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Retirement Plans Provide Big Tax Breaks For Business Owners

Pete Pigeon
Mike Switzer/SC Public Radio

While a lot of people just finished some rushed year-end tax moves, our next guest says they could have saved themselves a lot of trouble by doing their tax planning at the beginning of the year instead.  Especially business owners who haven’t yet set up a retirement plan for their company.

Mike Switzer interviews Peter Pigeon, a certified financial planner with Hobbs Group Advisors in Columbia, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.