One of the most common questions that business owners as is “How do I get the profits out of my business? Unfortunately, in many cases, business owners incur unnecessary taxes because they fail to plan an effective means to withdraw profits in a tax-effective manner. Some of the methods of compensation available to a business owner include the following:
- Fringe Benefits
While most executive compensation methodologies are well-known, what sets Compass apart is its comprehensive focus and understanding that the optimal method of withdrawing profits from a business or compensating its executives is dependent on the company’s and its executive’s specific circumstances.
In regards to retirement planning, we work alongside our wealth management advisors to create a plan of action to optimize funding for retirement in the most advantageous vehicles as well as focus on the tax benefits or consequences in your distribution years.