DEBT DIAGNOSIS

My client Busi­ness Own­ers appre­ci­ate the value of the fol­low­ing knowledge…

1. How to pay insur­ance pre­mi­ums with tax free dollars.

2. How to pay off loans with tax sav­ings advantages.

3. How to use the same dol­lar more than once.

4. How to prop­erly and eas­ily track loans and inter­est vol­ume. Watch a video overview here.

5. How to finance busi­ness equip­ment and at the end of the term have your pur­chased item, the prin­ci­pal and the inter­est back in your pocket and con­trol. Watch video here.

6. How to bor­row money with­out hav­ing to qual­ify for it. Read the arti­cle under the video here.

7. How to pro­tect your busi­ness, busi­ness part­ners and fam­ily from pos­si­ble calamity.

8. How to earn tax free div­i­dends and tax deferred growth which can be accessed tax free with­out penalty or restrictions.

9. How to cre­ate a sus­tain­able busi­ness plan that will pro­tect your busi­ness for generations.

10. How to cre­ate a tax free, sup­ple­men­tal retire­ment income beyond what you thought possible.

11. How to move money from your busi­ness to your per­sonal accounts in a tax advan­taged set­ting.   I’ll not give all our secrets away here.

If you are a busi­ness owner inter­ested in learn­ing more about “how to…”, con­tact me today.

Jen­nifer Hansen

845 – 649-7487

Jennifer@DebtDiagnosis.com

Employer’s Advan­tages

A non­qual­i­fied deferred com­pen­sa­tion plan pro­vides the fol­low­ing ben­e­fits to an employer:

1. The ben­e­fits payable to the employee are tax-deductible when paid.
2. The employer can pro­vide a deferred comp or salary con­tin­u­a­tion plan on a selec­tive, pick-and-choose basis.
3. The plan does not have to be sub­mit­ted to the IRS for prior approval.
4. The plan is rel­a­tively easy and inex­pen­sive to estab­lish, requir­ing only the exe­cu­tion of a rel­a­tively sim­ple agree­ment between employer and employee.
5. The costs to admin­is­ter the plan can be lower than those of qual­i­fied plans.
6. The ben­e­fits pro­vided may vary from one cov­ered employee to another, in the com­plete dis­cre­tion of the employer.
7. There are no statu­tory restric­tions on ter­mi­na­tion of the plan, as there are with qual­i­fied plans.
8. No min­i­mum or max­i­mum par­tic­i­pa­tion rules need be met. The plan may be estab­lished for only one employee or for 150 or more employ­ees in a large corporation.
9. The plan may be used either in lieu of, or in addi­tion to, a qual­i­fied retire­ment plan.
10. The plan may be used to attract new employ­ees and to retain valu­able exist­ing employees.
11. The plan may be used in lieu of giv­ing the employee an own­er­ship inter­est in the busi­ness, thereby dilut­ing the owner’s control.
12. The cash val­ues of a pol­icy used to fund the plan infor­mally are avail­able to the employer dur­ing the accu­mu­la­tion period.
13. The ben­e­fits payable under the plan can be tied to com­pany or indi­vid­ual per­for­mance, thus giv­ing the employee addi­tional incen­tive to be pro­duc­tive and effective.

Employee’s Advan­tages

A non­qual­i­fied deferred comp plan pro­vides the fol­low­ing ben­e­fits to the cov­ered employee:

1. The employee pays no tax on the deferred amounts until ben­e­fits are received, if the plan is prop­erly structured.
2. The plan can be used to sup­ple­ment the retire­ment ben­e­fits payable under a qual­i­fied retire­ment plan.
3. Death and dis­abil­ity fea­tures can be included in the plan, as well as retire­ment benefits.
4. The plan may pro­vide a sur­vivor ben­e­fit fea­ture if the employee dies after ben­e­fit pay­ments begin.
5. The employee may drop into a lower tax bracket at retire­ment, thus increas­ing his or her after-tax dis­pos­able income when the plan ben­e­fits are received.
6. For higher income exec­u­tives who can no longer make deductible IRA con­tri­bu­tions, a deferred comp plan can be used to replace the lost IRA benefits.
7. For the employee who changes employ­ers late in life and has lim­ited or no oppor­tu­ni­ties to accu­mu­late funds in the new employer’s qual­i­fied plan, the deferred comp plan can be used as an alternative.
8. Employ­ees adversely affected by the lim­its on con­tri­bu­tions to and ben­e­fits from qual­i­fied plans can sup­ple­ment their retire­ment incomes with a non­qual­i­fied plan.