Deferred Compensation

Buy-Sell Agreements

A buy–sell agreement is also known as a buyout agreement. It is a legally binding agreement between co-owners of a business that dictates the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business. It is also known as a business will. We try to make sure that your buy–sell arrangement is well-funded and that there will be enough money when such an event is triggered.

Disability Overhead Covergae

Disability overhead coverage is a type of disability insurance that's designed to protect your business if you become disabled. It provides monthly payments to your business for a specified period of time so that your business can meet its routine expenses while you're disabled. Such policy provides reassurance to your customers, creditors, and employees. While personal disability coverage helps provide a portion of your income, business overhead coverage covers the routine expenses of the business. Talk to us to know more about the time limits, exclusions, and coverage of this policy.

Key Person Life Insurance

This policy is purchased by the company, who is also the beneficiary of the policy. Such insurance protects the company against the death of a key employee. If the key person dies unexpectedly, the company receives the insurance payoff. If you have key employee(s) in your company, contact us to talk about ensuring your company in case of their death.

Executive Bonus Plan Section 162

Companies can provide additional supplemental benefits to their key employees or executives through the executive bonus plan (Section 162). Funds used to provide such benefits can be tax deductible. Such plans may be designed to reduce or eliminate the after-tax expense to the executive. If you have valuable employee(s) in your company, contact us to talk about providing such bonus plans.

Deferred Compensation

Deferred compensation is used to avoid current income taxes on contributions, and tax-deferred growth of accumulated earnings. In such arrangements, a portion of an employee's income is paid out at a later date after which the income was earned. Common examples of deferred compensation include pensions, retirement plans, and employee stock options. Contact us today to discuss possibility of providing this compensation to your employees.

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