Executive Bonus Planning - Hundman Wealth Planning

Executive Bonus Planning

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Executive Bonus Planning

The people on your team are your business’s most valuable assets. In this competitive marketplace it is more important than ever that you retain the key members of your executive team. Losing a key employee can result in financial losses and stagnant growth.

A strong executive bonus plan requires that all three of these areas are addressed and balanced.

When helping you create an executive bonus plan we look to:

  • Help Retain Key Employees
  • Maximize any Tax Benefits for Ownership
  • Maintain Compliance With All State and Federal Laws and Regulations

Schedule your complimentary consultation with Hundman Wealth Planning today.

Help Retain Key Employees

You want to make sure your key employees are excited to continue working for you, and are not tempted to leave for a competitor. However, you also do not want a poorly designed bonus plan that isn’t properly incentivized. We work with you to make sure we create an executive bonus plan that is competitive, incentivizes the types of actions and behaviors that are vital for your business, and communicates to your team members how valuable you consider them to be.

Retaining key employees is about more than just offering them rewards. Top-performers want to know their work matters and to be challenged. We make sure your executive bonus plan is tied to actions that directly improve the bottom line of your business.

Maximize Benefits to Ownership

The way you structure your executive bonus plan can greatly affect your corporate taxes. In addition to designing a plan with the right incentives, we also make sure to structure the plan in the most tax-efficient way possible for the ownership of the business.

We put our years of finance and tax experience to work for you in developing an executive bonus plan that is good for your executive team and good for your business.

Maintain Compliance

There are numerous state and federal regulations that govern how you are allowed to structure an executive bonus plan. We carefully analyze your plan to make sure it is fully compliant with all relevant laws including:

  • ERISA
  • IRS Tax Regulations
  • Illinois Department of Revenue Regulations
  • Arizona Department of Revenue

We also constantly monitor the laws and regulations that cover executive bonus plans. We let you know of any changes or potential changes in the law that may affect your executive bonus plan. When we create an executive bonus plan for you, our goal is to create a lasting relationship with you and your company, not simply to conduct a transaction.

If you are interested in learning more about our executive bonus planning services, contact us today.