It’s critical to be aware of the tax rules surrounding your NQDC plan
Nonqualified deferred compensation (NQDC) plans pay executives at some time in the future for services to be currently performed. They differ from qualified plans, such as 401(k)s, in that: • NQDC plans can favor certain highly compensated employees, • Although the executive’s tax liability on the deferred income also may be deferred, the employer […]
Mentoring can make your succession plan better
The owners of many companies launch their enterprises with a business plan — a written document outlining the company’s strategic objectives and practical means of accomplishing them. Likewise, many owners leave their businesses via a succession plan, a written document outlining how the company’s ownership will transition. Often, however, these two documents never cross […]
