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.
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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 …