Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans) What is Internal Revenue Code (IRC) Section 409A? IRC Section 409A, added by the American Jobs Creation Act of 2004, is the first comprehensive legislation aimed squarely at employer nonqualified deferred compensation [more...]
Jan 282012
Jan 282012
Custom Benefit Plans for Key Personnel A top-hat plan is a type of nonqualified deferred compensation (NQDC) plan that is established to provide unfunded (employers don’t formally set aside funds for these benefits; instead, they use their general assets) deferred compensation [more...]
You should become familiar with the terms of your employer’s 401(k) plan to understand your particular withdrawal rights (more…)
Dec 232011
THE CROSS PURCHASE BUY-SELL AGREEMENT Taking Care of Your Business After You’re Gone Business owners are builders. They spend their lives building a business that provides goods and services to their clients and provides themselves a living. But nothing can tear down [more...]
Transferring Your Business Interest with a Buy-Sell Agreement What is a buy-sell agreement? Business succession tool Events like the death, disability, or retirement of an owner don’t have to mean the end of the business. Business succession planning can provide for an [more...]
Dec 202011
“GOLDEN HANDCUFFS” FOR KEY EMPLOYEES A way to “sweeten the pot” and retain executives and managers. A job that is simply too good to leave. Businesses arrange “golden handcuffs” or “golden handshakes” agreements with key managers to reward loyalty and promote retention. [more...]
HEALTH CARE REFORM – THE NEXT 3 YEARS A look at the changes coming in 2012, 2013 & 2014. Companies sponsoring group health plans should be aware of the changes coming to the health insurance industry as part of the “second [more...]
The end of the year is a good time to review your personal finances. What are your financial, business or life priorities for 2012? Try to specify the goals you want to accomplish. Think about the consistent investing, saving or budgeting methods [more...]
Dec 162011
A new “Family and Private Business” certificate program will be offered by the University of Cincinnati (UC), beginning in the 2012-2013 academic year. According to Lucy May of the Business Courier, the new program of courses was made possible by a new [more...]
IRA contribution limits The maximum amount you can contribute to a traditional IRA or Roth IRA in 2012 remains at $5,000 (or 100% of your earned income, if less), unchanged from 2011. The maximum catch-up contribution for those age 50 or older [more...]
