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Nike Deferred Compensation Plan: Reduce Your Tax Bill

Avier Wealth Advisors
1.87K subscribers
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310 views 2 years ago #employeebenefits #nike #financialplanning
The Nike Deferred Compensation Plan is available to employees who earn a base salary of $150,000 or more. This is an exclusive benefit that can help you reduce your tax bill by thousands. You can enroll in the deferred comp plan during open enrollment. During this time, you decide how much income you want to defer: Up to 75% of next year’s base salary Up to 100% of the following year’s PSP bonus Video highlights: 00:00 Introduction 00:15 Eligibility for Nike DCP 00:43 Nike DCP Considerations SCHEDULE TIME TO DISCUSS DEFERRED COMP: https://calendly.com/avier-prospect/a... In the 30-minute call you will learn: • Strategies for reducing your taxable income • Ensuring adequate cashflow to cover monthly expenses • Developing a comprehensive payout strategy If you liked this video.... 👍 HIT the like button! ▶️ SUBSCRIBE to our channel view more videos created for Nike employees https://www.bitly.com/avieryoutube FIND Alex Krider, MBA,  …...more
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Nike Deferred Compensation Plan: Reduce Your Tax Bill
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310Views
2022Oct 12
The Nike Deferred Compensation Plan is available to employees who earn a base salary of $150,000 or more. This is an exclusive benefit that can help you reduce your tax bill by thousands. You can enroll in the deferred comp plan during open enrollment. During this time, you decide how much income you want to defer: Up to 75% of next year’s base salary Up to 100% of the following year’s PSP bonus Video highlights: 00:00 Introduction 00:15 Eligibility for Nike DCP 00:43 Nike DCP Considerations SCHEDULE TIME TO DISCUSS DEFERRED COMP: https://calendly.com/avier-prospect/a... In the 30-minute call you will learn: • Strategies for reducing your taxable income • Ensuring adequate cashflow to cover monthly expenses • Developing a comprehensive payout strategy If you liked this video.... 👍 HIT the like button! ▶️ SUBSCRIBE to our channel view more videos created for Nike employees https://www.bitly.com/avieryoutube FIND Alex Krider, MBA, CFP®, EA on LinkedIn: linkedin.com/in/alexanderkrider NIKE DEFERRED COMP RESOURCES: https://avieradvisors.com/nike/nike-n... Learn more about the Nike deferred comp plan: Decide how much income to defer: Make sure you are fully funding all your other pre-tax accounts (Nike 401(k), HSA) before deferring any of your income within a deferred compensation plan. Don’t forget about the Nike Mega Backdoor Roth provision within your 401(k), you’ll want to consider leveraging that as well. Manage your cashflow for monthly expenses: You can sell your RSUs when they vest and use the proceeds to supplement your cashflow needs. There are a few benefits associated with this strategy. First, when you sell your RSUs you can defer more income from your salary and bonus – which can help reduce your tax bill. Second, it helps you maintain a more diversified portfolio. Establish your deferred comp distributions: You need to decide when you want to receive your distribution every time you make a deferral. The payouts you elect will be taxed as ordinary income when money is distributed from your Deferred Comp Plan. You need to consider your future sources of income (RMD’s, Social Security, etc.) when deciding how and when to receive your deferred income. you could end up with an unexpected tax bill in retirement and significantly reduce your total tax savings. ******************************* Avier Wealth Advisors 5200 Meadows Road Lake Oswego, OR 97035 mailto:info@avieradvisors.com Website: https://avieradvisors.com/ Third Party: Avier Wealth Advisors is not affiliated with Nike. There is no guarantee that the information we have provided is accurate. Nike employees are encouraged to contact their employer should they have any questions regarding their employee benefits. Taxes: Avier Wealth Advisors does not prepare taxes. The tax ideas presented are meant to demonstrate general concepts rather than precise calculations. We consult with your tax professional for exact calculations. #nike #employeebenefits #taxplanning #financialplanning

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Avier Wealth Advisors

1.87K subscribers