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Deferred compensation is a benefit available to many corporate executives, discussed by Michelle Smallenberger from Financial Design Studio. The tutorial covers key aspects of deferred compensation, including its definition, timing related to taxes, and important decisions concerning its use. Deferred compensation allows individuals to earn income today while postponing its receipt to a future date, primarily to achieve tax savings. Executives may defer income now, when they are in a higher tax bracket (e.g., 37%), anticipating being in a lower bracket (e.g., 24%) later. Additionally, the tutorial addresses the pros and cons of this benefit and its impact on financial planning.
