Your small business clients are faced with the increasing likelihood of higher taxes in 2013 and beyond; those aiming to reduce the slope of the fiscal cliff next year will want to take a closer look at the benefits of a defined benefit plan. …. read our strategy article at http://www.advisorone.com/2012/12/13/fully-funded-retirement-in-10-years-a-db-plan-for
Posts Tagged ‘Compensation and Benefits’
Fully Funded Retirement in 10 Years: A DB Plan for Now
Posted by William Byrnes on December 17, 2012
Posted in Retirement Planning, Uncategorized, Wealth Management | Tagged: Business, Compensation and Benefits, Defined benefit pension plan, Employment, Human Resources, Pension, Retirement, Small business | Leave a Comment »
Do Your Clients’ International Assets Create Criminal Tax Exposure?
Posted by William Byrnes on August 12, 2011
Retirement plan sponsors face increasing regulatory scrutiny and significant liability as plan fiduciaries. Can you leverage off these fiduciary concerns and generate advisory business for your firm?
There are a couple of key approaches you can use to address sponsors’ concerns about their fiduciary responsibilities and sell to the plans and their sponsors.
Believe it or not, there are a number of plans that don’t use an advisor—with the plan sponsor choosing to go it alone to save a few dollars. As reported in a previous edition of the Advisor’s Journal, a significant of number of employee retirement plans (19%) don’t use an outside investment advisor.
Read this complete analysis of the impact at AdvisorFX (sign up for a free trial subscription with full access to all of the planning libraries and client presentations if you are not already a subscriber).
Posted in Wealth Management | Tagged: 401(k), Business, Compensation and Benefits, Fiduciary, Human Resources, Investment Advisor, Pension, Retirement planning | Leave a Comment »
The Perils of Top-Hat Plans
Posted by William Byrnes on July 22, 2011
An executive top-hat plan can be a great way to become desirable to highly qualified executives or supplement a business owner’s compensation. However, these plans are accompanied with a significant downside. Because the plans are generally unfunded, major events at the sponsor, like a sale or insolvency, can decimate a plan and leave participants empty handed. The effect on a top-hat plan when a sponsor liquidates its assets is illustrated by a recent Seventh Circuit Court of Appeals case. Read this complete analysis of the impact at AdvisorFX (sign up for a free trial subscription with full access to all of the planning libraries and client presentations if you are not already a subscriber).
Posted in Wealth Management | Tagged: Business, Compensation and Benefits, Crochet, Government, Human Resources, Small business, Top hat, United States | Leave a Comment »
Enhancing Executive Compensation: 162 Bonus Plans
Posted by William Byrnes on December 31, 2010
An employer who does not want to, or cannot, institute a qualified pension or profit-sharing plan, or who does not want to extend benefits to all of its full-time employees, can use a “Section 162 plan” to meet its executive compensation needs. A Section 162 plan leverages life insurance to provide supplemental compensation to select employees while also allowing the employer to take an income tax deduction for the premium payments.
In a Section 162 plan, an employer applies for, and pays premiums on, a life insurance policy on its employee’s life. The employee, however, owns the policy and has the right to appoint beneficiaries; the employer does not take an interest in the policy’s death benefit.
As an example of Section 162 plan and its tax advantages, … read this complete article at AdvisorFX (sign up for a free trial subscription with full access to all of the planning libraries and client presentations if you are not already a subscriber).
For in-depth analysis of Section 162 plans, see Advisor’s Main Library: Section 15 C—Executive Bonus – I.R.C. �162 Plan
We invite your questions and comments by posting them below or by calling the Panel of Experts.
Posted in Retirement Planning, Uncategorized | Tagged: Business, Compensation and Benefits, Employment, Executive pay, Human Resources, insurance, Profit sharing, Tax advantage | Leave a Comment »
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