Employee benefits and compensation matters can be challenging for closely held and family-owned companies. In designing and implementing benefits and compensation arrangements, closely held and family-owned businesses must be aware of the pitfalls and available opportunities to ensure compliance with applicable guidance.
Providing benefits and certain compensation arrangements involves some vital procedural and compliance steps which could lead to unintended liability if not carefully administered. An in-depth understanding of federal and state regulations and administrative procedures in providing health insurance, adopting 401(k) plans, and offering other incentives are essential for a closely held business to avoid any costly missteps.
Listen as our panel provides practical guidance in avoiding pitfalls of benefits and compensation arrangements for closely held businesses and best practices and planning techniques to ensure compliance.
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