DEFERRED COMPENSATION PLAN: BEST WAY TO REDUCE TAXES
If you have struggled to reduce your
a high income salaried employee
, Deferred Compensation Plan can be the solution.
Deferred Compensation plan is especially suited for the
Financially Independent Retire Early
(FIRE) crowd. But, there are certain aspects one needs to consider.
Types Of Deferred Compensation Plan
A Qualified Deferred Compensation Plans complies with
Employee Retirement Income Security Act (ERISA)
and include 401(k) and 403(b) plans.
Deferred Compensation Plans do not have limits specified by the government. The downside is that ERISA protections are no longer available.
The Plan allows you to save for the future on a before-tax basis.
What is A Deferred Compensation Plan?
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