Beyond 401(k)s for Small Business Owners: A Practical Guide by Jean D. Sifleet

By Jean D. Sifleet

The final word reference on repayment for small enterprise ownersBeyond 401(k)s for Small company vendors offers innovations for lowering taxes, making plans to your retirement, and lucrative high-performing staff. specialist recommendation from legal professional and CPA Jean Sifleet might help small company proprietors maximize their very own rewards and create an atmosphere during which staff be aware of that their labor will suggest a greater destiny for themselves.In transparent, uncomplicated language this publication is helping you determine what sort of plan you could have enough money, what your staff wish, and what to do. vital tax and coverage concerns are coated intimately and step by step assistance helps you to layout a repayment technique that works for either you and your staff. Case reviews, pattern plans, and worthy references make this ebook your one-stop resource for entire assurance of possible choices, from money bonus courses to worker inventory alternative plans (ESOPs) and every little thing in among. With past 401(k)s for Small enterprise proprietors you should have all of the instruments you wish to:* Maximize proprietor advantages, lessen taxes, and improve your retirement source of revenue* Use inventive repayment to encourage your staff* comprehend certified and nonqualified plans* handle the original problems with kin companies* Get the simplest deal on coverage and advantages on your corporation* stay away from dear pitfalls* degree your development and maintain your plan on target

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Extra info for Beyond 401(k)s for Small Business Owners: A Practical Guide to Incentive, Deferred Compensation, and Retirement Plans

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1 lists the factors that employees say are most important to them. IMPROVING NONCOMPENSATION ISSUES Employees today want to enjoy the work they perform. For many, their allegiance to their profession and their actual dayto-day work takes higher priority than their allegiance to their organization. 1 The Factors Most Important to Current Employees (Not Listed in Priority Order) Enjoyment of the actual work Adequate staffing levels Amount of pay Link between pay and performance Work/life balance 28 What Is Important to Employees?

3 Plan Visual Calendar Timeline AREA JAN B U S D A T E S O P E R A T I O N S R E V I E W S P L A N FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC What Is Important to Employees? 21 • What is the level of employee participation in the current programs? • How do your compensation incentives and benefits compare with those of other employers? • What is working well? • What is not working well? • What behaviors do you want to encourage? • What behaviors do you want to discourage? • What outcomes do you want to reward?

Do you have adequate coverage in short- and long-term disability? • What services do your vendors provide? ) • What other options should you consider? Inexpensive Benefits for Employers Matt suggests that employers consider offering Section 125 plans, which are simple to set up and usually pay for themselves. Section 125 plans allow employees to contribute pretax dollars to an account from which they get reimbursed for health and dependent care out-of-pocket expenses. This helps employees with little cost to the employer.

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