With the fading of the defined benefit plan — the so-called traditional pension — companies have increasingly relied on 401(k) plans to fulfill their employees’ retirement needs. However, it can be difficult for a small company to set one up. Fortunately, there are other options out there. Below is a brief review of some of […]
Tag: profit sharing
Reporting Profits Interest Awards
During the pandemic, cash has been tight for many small businesses, which may make it hard to attract and retain skilled workers. In lieu of providing cash bonuses or annual raises, some companies may decide to give valued employees a share of their future profits. While corporations generally issue stock options, limited liability companies (LLCs) […]