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Deferred compensation is a benefit primarily available to corporate executives. This tutorial, led by Michelle Smallenberger from Financial Design Studio, covers key aspects of deferred compensation: its definition and application, tax timing, decision-making considerations, as well as advantages and disadvantages. Deferred compensation refers to income that is earned now but paid out at a later date. A major incentive for utilizing this benefit is tax savings, as individuals in higher tax brackets (e.g., 37%) may defer income to a future period when they might be in a lower tax bracket (e.g., 24%). Understanding these components is essential for effective financial planning.
