Incentive Compensation
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The document discusses various types of incentive compensation and their tax implications. It describes how stock grants, stock options, bonuses based on profits, and phantom stock units can result in employees incurring tax liability without receiving cash to pay those taxes. The document also outlines some ways to reduce this mismatch, such as making 83(b) elections or including cash-out features in stock option plans.
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![The Unintended Consequences of Incentive Compensation (and how to fix them) Attorneys at Law 11 Piedmont Center Suite 900 3495 Piedmont Road, N.E. Atlanta, Georgia 30305 [email_address] direct: 404.364.6630 Richard H. Bennett August 31, 2011 Presentation for Last Wednesday Lunch & Learn](https://image.slidesharecdn.com/linkedinincentivecompensation-13184407871597-phpapp02-111012123820-phpapp02/85/Incentive-Compensation-1-320.jpg)
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The document summarizes the key changes to the Texas franchise tax, including moving from a tax on capital and earned surplus to a gross margin tax. It explains what entities are taxable and outlines the calculations and rates for the new gross margin tax, including allowances for cost of goods sold, compensation, and different tax rates for retail/wholesale entities. Discounts are available for smaller businesses. Methods for filing extensions and returns are also covered.1.-Copyright 息 2020 McGraw-Hill Education (Australia) Pty 
1.-Copyright 息 2020 McGraw-Hill Education (Australia) Pty BenitoSumpter862
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1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Chapter 18
Accounting for
income taxes
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Introduction to accounting for income taxes
Understand the difference between accounting profit and taxable income
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
Some differences between accounting and tax rulesItemGenerally accepted accounting ruleTax ruleMany accrued expenses (e.g. long-service leave, warranty costs)An expense when accruedRecognised as a tax deduction when paidMany prepaid expenses (e.g. prepaid rent)Initially an assetexpensed when economic benefits usedTypically a tax deduction when paidRevenue received in advance (e.g. rental revenue)Treated as a liability and recognised as revenue when earnedTypically taxed when receivedEntertainment and goodwill impairmentTreated as an expenseNot a tax deduction in current or subsequent periodsDoubtful debtsTreated as an expense when recognisedTreated as a tax deduction when debtor is actually written off in subsequent periodDevelopment expenditureOften capitalised and subsequently amortisedTypically a tax deduction when paid for
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation
Accounting for income taxesGoverned by AASB 112 Income Taxes
Balance sheet methodDTA ad DTL
Carrying Amount (CA) Book value
Tax base taxation rules
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation
Rules and Format
TTD taxable temporary difference deferred tax liability
DTD deductible temporary difference deferred tax asset
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Have a read of the facts in Worked Example 18.2
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation
Rules and Format
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Have a read of the following slides on your ownThese are a summary of the chapter and I have already discussed the points during the Podcasts
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Measurement of DTAs and DTLs (cont.)
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation (cont.)
Temporary differences can be of tw ...1.-Copyright 息 2020 McGraw-Hill Education (Australia) Pty 
1.-Copyright 息 2020 McGraw-Hill Education (Australia) Pty SantosConleyha
油
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Chapter 18
Accounting for
income taxes
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Introduction to accounting for income taxes
Understand the difference between accounting profit and taxable income
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
Some differences between accounting and tax rulesItemGenerally accepted accounting ruleTax ruleMany accrued expenses (e.g. long-service leave, warranty costs)An expense when accruedRecognised as a tax deduction when paidMany prepaid expenses (e.g. prepaid rent)Initially an assetexpensed when economic benefits usedTypically a tax deduction when paidRevenue received in advance (e.g. rental revenue)Treated as a liability and recognised as revenue when earnedTypically taxed when receivedEntertainment and goodwill impairmentTreated as an expenseNot a tax deduction in current or subsequent periodsDoubtful debtsTreated as an expense when recognisedTreated as a tax deduction when debtor is actually written off in subsequent periodDevelopment expenditureOften capitalised and subsequently amortisedTypically a tax deduction when paid for
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation
Accounting for income taxesGoverned by AASB 112 Income Taxes
Balance sheet methodDTA ad DTL
Carrying Amount (CA) Book value
Tax base taxation rules
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation
Rules and Format
TTD taxable temporary difference deferred tax liability
DTD deductible temporary difference deferred tax asset
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Have a read of the facts in Worked Example 18.2
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation
Rules and Format
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Have a read of the following slides on your ownThese are a summary of the chapter and I have already discussed the points during the Podcasts
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Measurement of DTAs and DTLs (cont.)
1.-
Copyright 息 2020 McGraw-Hill Education (Australia) Pty Ltd
Deegan, Financial Accounting 9e
18-*
Balance sheet approach to accounting for taxation (cont.)
Temporary differences can be of tw ...Stock options & early exercise 101
Stock options & early exercise 101Lever Inc.
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This document provides information about stock options and early exercise. It begins with a disclaimer that the information provided is not financial advice. It then provides definitions of stock options, vesting schedules, and exercise price. It explains that shares are not owned until options are both vested and exercised. The document discusses what early exercise entails, including filing an 83(b) election form and designating gains as long-term capital gains to receive tax benefits. It outlines the pros and cons of early exercise. Finally, it provides step-by-step instructions for employees who want to early exercise their options.Equity Compensation Design and Use Matrix: stock options, restricted stock, e...
Equity Compensation Design and Use Matrix: stock options, restricted stock, e...PERFORMENSATION
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This document provides a summary of various types of equity compensation plans, including their primary uses, typical plan sponsors and recipients, main features, and key accounting, legal, tax, communication, and administration issues. It summarizes 14 major types of equity plans: incentive stock options, non-qualified stock options, restricted stock shares, restricted stock units, performance awards, stock appreciation rights, employee stock purchase plans, non-qualified stock purchase plans, deferred stock units, phantom stock awards, and their purposes in attracting, motivating, and retaining employees while addressing the complex tax, accounting and legal issues associated with each.Equity Compensation Design and Use Matrix
Equity Compensation Design and Use MatrixPERFORMENSATION
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This matrix describes the 10 most common types of time-vested equity compensation instruments and 9 key issues (primary use, typical plan sponsor and recipient, main features, key accounting, legal, tax, communication and administration issues.) The original version of this matrix has been downloaded more than 5,000 times and is considered an indispensable tool at the desks of many CEOs, CFOs, Compensation professionals and Stock administrators.Executive compensation
Executive compensationshyamasundar Tripathy
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Executive compensation consists of salary, bonuses, stock options, and other benefits provided to executives in exchange for their services to an organization. It aims to attract, retain, and motivate skilled executives through sufficient pay that takes into account performance, government regulations, and tax law. Compensation typically includes short-term pay like salary and bonuses as well as long-term pay like stock options and restricted stock to align executive interests with shareholders and company performance over time. Common forms of compensation include cash, deferred compensation, retirement packages, and perks.Commission Pay for Employees: Structuring Agreements & Defending Claims Absen...
Commission Pay for Employees: Structuring Agreements & Defending Claims Absen...PotomacLegalGroup
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This document discusses commission structures for employees and legal issues that may arise. It addresses how commissions are earned based on things like point of sale, payment receipt, or revenue recognition. State laws in Virginia and California regarding earned commissions are overviewed. Sample commission plan language is provided addressing when commissions are deemed earned based on delivery, risk of transfer, or revenue recognition. The document also discusses termination of employment before payment is received and draws against future commissions. Potential claims by employees for unpaid commissions like breach of contract or implied covenant are listed. Strategies for employees to pursue such claims through written discovery, depositions of the employer and coworkers, and use of experts are provided. The document concludes with discussion of employer defense strategies such as protectingBusiness Owner Insurance Planning By Mark Simon
Business Owner Insurance Planning By Mark SimonMark L. Simon
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The document discusses various business planning strategies for owners, including benefits for key employees like supplemental retirement plans, executive bonus plans, and split-dollar insurance. It also covers benefits for all employees like qualified pension and health plans. The document provides an overview of different business entity structures and considerations for choosing life insurance, buy-sell agreements, disability insurance, and estate planning.Business Owner Insurance Planning 2009
Business Owner Insurance Planning 2009cpwalmsley
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In this presentation I discuss the best types of insurance for business owners. Our firm provides all of these services and more. Audio will soon be added.EASi Performance Awards Overview
EASi Performance Awards OverviewEasi Admin
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A comprehensive overview of grant strcutures, administrative challenges, accounting and tax issues associated with equity compensation in the form of Performance Awards.Tax Strategy for Entrepreneurs & Tech Professionals
Tax Strategy for Entrepreneurs & Tech ProfessionalsMartin Curiel, CFA
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際際滷s from a workshop presented on December 14, 2015 in San Francisco, California by MYeCFO. Covers some of the key tax issues faced by start-up executives and professionals, including maximizing deductions, setting up the right business structure, and dealing with equity based compensation (e.g. ISOs, NSOs, RSUs, Concentrated Positions).New business entity
New business entityjoerap01
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There are several tax considerations when forming a new business entity. A sole proprietorship reports profits and losses on the owner's personal tax return. Partnerships do not pay taxes but partners report their distributive share of income regardless of distributions. Corporations can elect S corporation status to avoid double taxation of dividends. The tax treatment of asset and stock sales depends on whether assets are sold individually or as part of an entity.Tax Foundation University 2017, Part 4: A Close Look at Some Major Reform Plans
Tax Foundation University 2017, Part 4: A Close Look at Some Major Reform PlansTax Foundation
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The document discusses different tax policies and their economic effects. It provides an overview of the Tax Foundation's TAXES AND GROWTH (TAG) model for analyzing these effects. The TAG model uses a neoclassical framework to estimate how changes to taxes impact the economy by altering the costs of labor and capital. The document examines several past tax reforms, including the Kennedy tax cuts of 1962-1964, the Reagan tax cuts of 1981, and the 1986 tax reform. It summarizes the TAG model's estimates of the economic and revenue effects of these policies based on their impacts on GDP, wages, business investment, and job growth.Stock Options: An Introduction
Stock Options: An Introductionalexlod
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Stock options allow employees to purchase company stock at a discounted price. There are different types of stock options with varying tax implications. When exercising options and selling shares, it is important to consider variables like vesting schedules, fair market value, capital gains tax rates and alternative minimum tax to maximize profits and minimize taxes. Consulting a tax specialist is recommended to understand individual tax situations related to stock options.Mandatory Employee Leave: An In-Depth Analysis of State and Local Laws
Mandatory Employee Leave: An In-Depth Analysis of State and Local LawsComplyRight, Inc.
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Did you know that numerous states and cities have passed laws granting leave for workers to address certain health and family-related issues? And that many local governments mandate paid time off for being sick? Requiring employers to provide time off for employees is a growing trend, and it shows no signs of slowing down.
Mainly due to inaction at the federal level, many states and local governments have stepped up to grant employees time off in specific circumstances. These laws vary greatly from how much leave is allowed, how the time off is accrued, when employees can begin to use leave, and if the time can be carried over from year to year.Compensation management chap6
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This document discusses different components of employee compensation. It defines compensation as all forms of financial return, tangible services, and benefits received by employees. It outlines direct compensation such as basic salary, bonuses, commissions, and mixed/variable pay plans. It also discusses indirect compensation or benefits including insurance, paid time off, retirement plans, and perks. The document explains how compensation systems are designed and compensation theories like expectancy theory and equity theory. It provides examples of different types of direct compensation including basic wages, dearness allowance, bonuses, commissions, piece rates, and profit sharing.Pay & productivity
Pay & productivityAndiie Yien
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This document discusses concepts related to pay, productivity, and compensation in the workplace. It defines key terms like employment contracts, salary, and productivity. It explains the importance of pay to employers, employees, and governments. It also discusses different compensation schemes and how varying levels of pay can impact productivity. Motivation techniques are explored, along with issues that can arise when compensation is not properly implemented. Different payment systems like piecework and time wages are analyzed in terms of their impacts on productivity. The sequencing of pay over a career is also covered, along with the advantages of delayed compensation plans and constraints that must be considered.Tax Foundation University 2017, Part 2: Understanding How Fiscal Changes Impa...
Tax Foundation University 2017, Part 2: Understanding How Fiscal Changes Impa...Tax Foundation
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This presentation examines how the tax system slows economic development and hampers international competitiveness.
It covers why getting the tax base right is at least as important as reducing the statutory tax rates, and examines alternative tax regimes.
It estimates what economic benefits might be attainable from a complete reform of the system, and comparea the results of going to a pure income tax versus a pure expenditure tax.Incentive Compensation
- 1. The Unintended Consequences of Incentive Compensation (and how to fix them) Attorneys at Law 11 Piedmont Center Suite 900 3495 Piedmont Road, N.E. Atlanta, Georgia 30305 [email_address] direct: 404.364.6630 Richard H. Bennett August 31, 2011 Presentation for Last Wednesday Lunch & Learn
- 2. Tax When Granted? If stock has transfer restrictions OR a substantial risk of forfeiture (e.g., not vested yet), then no tax upon grant Income (and tax) incurred once both are gone Future tax presumably higher because of increased value No extra cash to pay tax Exception: The 83(b) election.
- 3. Tax While Held If S-Corp, then employee must report income on share of corporations taxable income (regardless of whether cash is distributed) Any dividends are reportable as normal At least cash is received to pay taxes
- 4. What is it? Stock is sold to employees rather than granted Price is often below market value FMV Purchase Price = Compensation Can be vested or subject to a vesting schedule as with stock grants Normally subject to transfer restrictions During restriction, still vote and receive dividends Consider holding shares in escrow until restrictions lapse
- 5. Tax When Granted or Exercised No tax upon grant if both: No readily ascertainable FMV If actively traded on an exchange, then readily ascertainable If transferable by the employee + immediately exercisable in full + cover stock that have no restriction or condition that significantly affects FMV Substantial risk of forfeiture Examples: Subject to vesting, or expire upon employment termination Tax upon grant if either of the above qualities exist at time of grant Tax upon exercise if neither of the above qualities exist at time of grant Exception: The 83(b) election.
- 6. Tax When Granted or Exercised (cont) If taxed at grant: Tax on (FMV of underlying stock) (exercise price) No extra cash to pay tax If taxed at exercise, same as above, except: FMV is measured at time of exercise (so could be higher or lower) No extra cash to pay tax unless you have a cash-out feature (downside: employee wont have that stock to hold with hopes of future appreciation)
- 7. What is it? Employer pays bonus based on a percentage of the businesss profits Often structured to pay annually, but can be any period Watch out for profit fluctuations Can be fixed or variable percentage Can be given to all or some employees Can be divided unevenly among employees
- 8. What is it? Employer gives bonuses that are based on a stated number of shares in the company May be full rights Phantom Stock Unit Award May be partial rights Dividend Award Stock Appreciation Right Liquidation Right All tax is ordinary Can include Conversion Right
- 9. Various types of Incentive Compensation Certain types can cause a mis-match of cash receipt and tax expense Certain types or features can reduce or eliminate that mis-match