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Syracuse, NY - February 17, 2006 - Executive
compensation plans have
historically been designed to
compensate and more importantly
help retain executives. Without
such plans, turnover of
executives would be more fluid
in today’s competitive business
environment. With that in mind,
companies have developed
benefits including deferred
compensation plans, incentive
stock option plans and executive
bonus plans. While these plans
are attractive to executives,
they are often complex to
administer and to qualify under
tax regulations.
Generally speaking, most
executive compensation plans can
be quite beneficial to the
recipient. However, the prudent
executive will consult with
their Certified Public
Accountant before committing to
any compensation arrangement or
benefit. The tax consequences
can be very severe if proper tax
planning is not done.
At Green & Seifter CPAs, PLLC,
we have the expertise in tax
planning associated with all
types of executive compensation
plans. If you would like more
information on this issue please
feel free to contact
Paul Mahalick at 315-701-6340.
Green and
Seifter CPAs
offers a wide
array of professional services
spanning decades of experience
in the areas of accounting,
auditing, bookkeeping, financial
planning, fraud, and taxation to
individuals and businesses
throughout Central New York.
To learn
more about the services we
provide,
please link here. Or,
if you would like to speak
directly to one of our
professionals, please contact us
at 315-422-1391.
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