What’s the difference between a qualified and a non-qualified retirement plan?
A qualified plan such as a profit sharing plan or a 401K plan offers individuals significant tax benefits. Employers can deduct the contributions made to the plan for the benefit of the employee. These contributions and their earnings can grow tax-deferred until time of withdrawal. In contrast, a non-qualified plan is ineligible for tax-deferral benefits. As a result, contributions are taxed when the income is earned. Cohen & Caproni can work with you to best determine the appropriate method and timing for the distribution of benefits from these plans.
I have a qualified retirement plan or an IRA. What should I take into consideration?
We recognize that retirement accounts held in company-sponsored plans and IRAs have become one of the largest, if not the largest, investment accounts held by many individuals. There are income and estate tax considerations which must be analyzed in determining the proper time to commence distributions and the proper beneficiary or beneficiaries to designate to receive any benefits remaining after the participant’s death. The designation of multiple beneficiaries, possibly including trusts, may be desirable in many circumstances.
Can Cohen & Caproni help me design a stock option plan for my employees?
Yes. Our attorneys are well versed in designing and implementing incentive stock option plans and non-qualified stock option plans.
I already have an accountant, financial advisor, and /or an insurance representative. How can Cohen & Caproni help?
Our analysis coordinates implementation of your estate plan in a manner to maximize the benefits payable to you and your family in the most efficient income and estate tax manner. In that regard, we are glad to work with your other advisors, such as your CPA, financial advisor and insurance representative, in designing and implementing a plan which best fits your situation and needs.