This course examines the various ideas, methods, and techniques capable of optimizing the overall compensation package for key employees and principals in small to medium sized businesses. Qualified and non-qualified deferred compensation, benefit targeting, insurance programs, statutory fringe benefits, interest free loans, and investment planning are investigated. Effective pay plans essential to attract, motivate, and retain key people are described and evaluated. Consideration is given to indirect compensation in the form of business entertainment, expense accounts, auto use, travel, and transportation. Equity participation is explored through stock sales, repurchase agreements, incentive stock options, ESOTs, stock options, and bonuses. The new field of professional services is probed to provide tax, financial and estate planning to the key executive.
Delivery Method: Online Interactive Self Study
Advanced Preparation: None
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Chapter 1: Tax Economics
1. Identify financial and tax income types noting how cash management is used to acquire and operate assets, specify changes recently made to taxable income, determine how the passive loss rules categorize income and identify income splitting formats that can reduce tax.
2. Recognize basic cash management techniques and how to generate tax-free income, identify ways to defer income, and specify techniques to shelter income.
3. Determine the importance of budgeting noting rules to budget effectively, specify several cash usages, recognize financial acquisition guidelines for tax-advantaged investments, and specify multiple asset management rules.
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