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Deferred compensation is a benefit available to most corporate executives. Michelle Smallenberger from Financial Design Studio discusses key aspects of deferred compensation, including its definition, timing for tax considerations, and important decision points. Deferred compensation allows individuals to earn income now but defer it to a future date, often to achieve tax savings. By deferring income while in a high tax bracket (e.g., 37%), individuals may pay taxes at a lower rate in the future (e.g., 24%). The tutorial also covers the advantages and disadvantages of this benefit and its impact on financial planning.
