Deferred Agreement Sample For Care Home Fees In Oakland
Category:
State:
Multi-State
County:
Oakland
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
Description
Deferred compensation is an arrangement in which a portion of an employee's income is paid out at a date after which the income is actually earned. A Deferred Compensation Agreement is a contractual agreement in which an employee (or independent contractor) agrees to be paid in a future year for services rendered. Deferred compensation payments generally commence upon termination of employment (e.g., retirement) or death or disability before retirement. These agreements are often geared toward anticipated retirement in order to provide cash payments to the retiree and to defer taxation to a year when the recipient is in a lower bracket. Although the employer's contractual obligation to pay the deferred compensation is typically unsecured, the obligation still constitutes a contractual promise.
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FAQ
A deferred payment is one that is delayed, either completely or in part, in order to give the person or business making the payment more time to meet their financial obligations. In accounting terms, any merchant allowing customers to set up a deferred payment agreement will be dealing with accrued revenue.