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Nonqualified Deferred Compensation for Large Family Businesses

Family Business
by Jack Veale

Many small family businesses disregard nonqualified deferred compensation because these plans don’t provide a tax deduction until disbursement. But other family businesses are large enough to worry less about such tax matters and more about retaining key employees, especially nonfamily executives. Because qualified plans are limited in scope, many of these larger businesses use nonqualified plans to compensate and retain nonfamily executives.

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