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The payment of the deferred compensation will be reported on a Form W-2 even if you are no longer an employee at the time. You are also taxed on the earnings you get on your deferrals when they ...
Deferred compensation plans can be a good tax planning tool but they come with complications. Q.Dan, I have a deferred pay account. I have a total of $66,000 in the plan of which $41,000 is wages ...
Pay all accrued deferred compensation according to the plan guidelines and payment allotments. Have payroll complete the required W-2 forms notifying the IRS of the additional income to employees ...
Qualified deferred compensation plans — 401(k)s, profit-sharing plans, incentive stock options, pensions — are protected by the Employee Retirement Income Security Act of 1974, which sets ...
Deferred compensation plans offer some tax savings but expose your money to a complete risk of loss. You'll have to decide if the tax savings are worth it. But the last year has highlighted ...
Like a 401(k) plan or traditional IRA, the money placed in a deferred compensation plan grows in a tax-deferred way. You can exclude the contributions made during the year from your taxable income.
When the Federal Reserve put out guidance last year on how banks should manage their compensation plans to prevent excessive risk-taking, it put a special emphasis on deferred compensation plans ...
The payment of the deferred compensation will be reported on a Form W-2 even if you are no longer an employee at the time. You are also taxed on the earnings you get on your deferrals when they ...