" \n" This article explains how working with a CEFEX-certified advisory firm can help nonprofit boards evaluate the quality of their fiduciary oversight process, strengthen donor confidence, and demonstrate disciplined stewardship of organizational assets. Most nonprofit board members understand Read more…
Maximizing Your Post-IPO Equity: Tax Strategies, Diversification, and Financial Planning
When your company goes public, it can be a life-changing event. An initial public offering (IPO) often unlocks substantial wealth for employees who have accumulated equity compensation in the form of stock options or restricted stock units (RSUs). Suddenly, what began as a promise of ownership in a Read more…
Could You Qualify for a 100% Tax Exclusion When Selling Your Business? Understanding Section 1202
Selling a business is a major milestone—and for some entrepreneurs, it can also come with a unique tax-saving opportunity. If you’re planning to sell all or part of a company structured as a C corporation, Section 1202 of the Internal Revenue Code may allow you to exclude up to 100% of the capital Read more…
Why Am I Getting Refunds From My 401(k)?
The Short Answer: Why am I getting refunds from my 401(k)? You’re likely receiving a 401(k) refund because your plan failed IRS nondiscrimination testing—most often the ADP test. When highly compensated employees save at higher rates than the rest of the workforce, the plan must return “excess Read more…
Learn How Business Owners Can Save $75,000 a Year Into Their 401(k)
For many people, the question “How much can I save into my 401(k)?” has a simple answer. If you are under age 50 in 2024 you can save $23,000 into your 401(k). If you are over 50 you can save $30,500. Read more…
My 401(k) Failed the Top-Heavy Test. Now What?
What is the top-heavy test? 401(k) plans must be tested annually to determine if they are top-heavy. The top-heavy test compares the account balances of “key employees” to those of “non-key employees.” If the sum of all key employee balances exceeds 60% of the total plan balance the plan is Read more…
What Business Owners Should Look for in a 401(k) Advisor
We know business owners don’t start their business to oversee healthcare plans or manage a 401(k) plan. However, benefit plans are necessary to recruit and keep employees, so it’s important to find someone you can trust will help your plan, your employees, and your business. Read more…
What’s Your Cause? How to Tie Board Decisions to Your Mission
Because one of my favorite things is pizza, I often joke that it gives me “purpose.” What better motivator is there during a long week than a family dinner at Farotto’s? Read more…
3(21) or 3(38): A Guide for Business Owners
Plancorp has worked with many business owners over the years to improve their corporate retirement plans. We have rarely come across a business owner who wanted more liability on their plate. Unfortunately, business owners frequently retain more than their fair share of legal liability—without even Read more…
