More often than not, the main benefit of most deferred compensation arrangements is the deferral of the taxes due because the income is actually received at a later date. Deferred compensation is usually a benefit for senior executives or key employees, and is put in place by the CEO or Board of Directors of any given business or organization.
Deferred compensation is an invaluable way for you to protect the livelihood of those key employees that your company relies on daily, year after year. Usually, deferred compensation is used as an incentive to retain their most valuable employees. Strategic Financial Partners is experienced in providing comprehensive information regarding deferred compensation plans. Contact us today, and let us help you keep your company thriving.