Looking for a internet source of generic master documents to cover the following DB:

Small Business may produce insufficient income after a few years, and owner personally guarantees its various expenses, and approx 50k per year contributions to the DB for the next 15 years, with his personal cash from other income sources.


The owner wants to reduce his personal AGI from wages by being bound to funding the various obligations of the business when/if its income declines, including its contribution obligations for its 1 other employee.

Any viewpoints on this?

Many. More importantly, many unanswered questions. For example, other employees? What type of business (LLC, corporation, etc.)? Goal(s) of the plan sponsor (other than putting in something for tax deferral)? What level of benefit is considered?

I recommend hiring an actuary who is experienced in small plan design. (Well, you didn't think I was going to recommend hiring a gorilla, did you?)

I would guess from your posting that you are trying to reduce current business income by the yet-unpaid future contributions for 15 years to the pension plan. In effect, you are posting a business liability for future expenses to justify lower current taxes.
Then you wish to pay them from non-business sources when they become due.
Short answer - not good tax planning, not good tax results.