By William L. MacDonald
Tax-exempt organizations are subject to more stringent IRS rules than their for-profit counterparts in terms of how they can provide nonqualified deferred compensation plans for highly paid employees. Nonprofit organizations should analyze their deferred compensation arrangements to ensure that such arrangements comply with the restrictive tax requirements of Code Section 457.
Code Section 457(f) generally provides that in order to defer an employee’s compensation to a future calendar year, the payment of that compensation must be contingent on the employee performing substantial services through a date in a …

By Peter Rohr
Despite the economy’s ups and downs, it is essential that physicians who are business owners look beyond their near-future investment goals and consider their long-term retirement plan. Taking the time to establish a company-sponsored retirement plan may be one of the most important decisions physicians can make. Not only does finding the right plan help to attract and retain talented medical professionals, but a plan can also enable one to build personal wealth by reducing current tax obligations.
There is a simple approach practice owners can take when establishing …

By Roccy DeFrancesco, JD, CWPP, CAPP, MMB 

Most doctors are not aware of the fact that industry altering legislation was passed in 2006 called the Pension Protection Act (PPA).  What’s so incredible about the PPA?  It allows for significantly increased contributions to a tax-deferred retirement plan for business owners and an ability to be even more discriminatory against the rank-in-file employees.

If it’s that incredible and was passed at the end of 2006, then why don’t doctors who own/run medical practices know about it?  Poor service from pension consultants would …

By Roccy DeFrancesco
Have you been pitched an “asset protection” plan where you can protect the most valuable asset of your medical practice and build a tax-free retirement with the same plan?  If you have, you’ve been pitched one of the most abused plans in the marketplace today (and if you have not been pitched this plan yet, you will be soon).  

Doctors have been getting pitched this “asset protection” concept for years and due to an increase in activity by sales people hitting pushing the plan, I thought it was time …