Construction Executive published an article co-authored by Tax Partner Barry Fischman, about the appeal of defined-benefit retirement plans.
By Barry Fischman, Partner, Tax & Business Services
As the benefit-focused retirement plan is a qualified plan, the assets are protected from creditors and litigants. Furthermore, the insurance component can be used in a buy/sell agreement. So, if a business partner dies, the owner can use insurance proceeds to buy his equity interest in the company.
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Marcum Construction Group
One of the leading construction accounting firms in the U.S., Marcum LLP’s Construction Services group provides audit, consulting, and taxation services to clients ranging from start-ups to multi-billion-dollar enterprises. The group’s professionals, among the country’s foremost experts in construction accounting, are frequent industry authors and speakers and serve as technical reviewers for the AICPA’s construction audit and taxation guides. Marcum’s construction group also publishes several definitive industry resources – including the annual Marcum National Construction Survey, the quarterly Marcum Commercial Construction Index, the Marcum PAS Contractor Compensation Quarterly, and the annual Marcum JOLTS Analysis of construction employment trends – and presents an ongoing series of industry summits and technical webinars focused on the unique needs of construction contractors.