The world of business only ever seems to become more cutthroat and competitive. Today, the existential threats that are constantly threatening to burst in and uproot even the best-laid business plans are more numerous than ever before. In order to keep these threats at bay and lead a thriving business into the future, business leaders need to seize every potential advantage that comes their way.
One of the many tools that businesses have in their fight to save money and stretch their existing finances are deferred compensation strategies. These are a variety of methods that you can use to defer paying income tax on some of your profits. Deferred compensation strategies often form a key component of a broader tax efficiency plan.
What are Deferred Compensation Schemes
Deferred compensation schemes are an option usually reserved for high earners, so that means anyone who is earning $115,000 or …