Deferred Compensation Rules and Regulations

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Deferred compensation is used to apply for retirement compensation, the tax will be treated accrual basis. Would you discuss entire company financial planing.

My advice is this: 1. First, there should be a written agreement between you and said employee to secure his formal consent on said payment scheme. Consult a labor lawyer if necessary. 2. Recording a deferred compansation expense payable in the books would entail a corresponding withholding tax remittance that must be remitted to the revenue on or before its due date. The entry is debit SW expense credit SW liability and withholding taxes payable