Ask @LeadersCorner:

Geoff and Nancy Thompson, Split-Life Insurance Plan?

How a Business Leader Can Utilize a Split-Dollar Life Policy
There are 2 types of split-dollar life insurance policy plans: equity split-dollar plan and non-equity split-dollar strategy. Along with the department of equity, the tax therapy of a split-dollar life insurance policy strategy depends upon the possession of the life insurance policy on the worker's life.
A setup that gives life insurance policy plan advantages, as well as some premium costs to an employee from a company, is a service split-dollar life insurance plan. Generally, an employer will certainly assist one or a number of key employees to buy required life insurance coverage security, as well as pay all or a portion of the costs. The employer paid costs will ultimately be recovered by the employer from the policy benefits.
Employer Plan Features:
Internal Revenue Service approval is not needed for an organization split-dollar life insurance policy plan.
The costs outlay are ultimately recuperated by the company.
The employer selects which workers will be covered by the plan as well as the amounts allocated for each and every picked employee.
A service split-dollar life insurance policy strategy is planned to keep essential employees. The benefit to the worker is shed if the staff member ends employment.
Staff Member Plan Features:
Preferably, the split-dollar life insurance policy plan is organized so that death proceeds are not subject to estate tax.
In the occasion of the staff member's fatality, the personal beneficiary obtains the death follows the life insurance policy, income tax obligation totally free.
Belongings life insurance policy protection is gotten at a minimized or zero out-of-pocket cost.
Funds that had been invested in life insurance coverage are currently readily available for various other household costs or objectives.
If a company is in a reduced tax brace compared to the shareholder-employee, a split-dollar life insurance policy strategy is a cost-effective way for a shareholder-employee of a closely-held corporation to move a part of the prices of the proprietor's individual life insurance to the corporation.
There is a common problem of the worker usually having to pay a big section of the costs in the beginning years of the strategy. Consequently, a variety of premium sharing variants have been created in order to conquer this trouble.
With the numerous different subtleties in the split-dollar life insurance policy, an appointment with a qualified economic professional is advised for any kind of company seeking to give life insurance coverage to key staff members.

View more

Uzoma Okoro

Uzoma Okoro is an engineer by profession and a writer, filmmaker, producer, and father in his spare time. He is currently the President of Engineering at Eco-Alpha Environmental & Engineering Services, found at www.eco-alpha.com. To contact him, visit his website http://uzomaokoro.com/.
He started his professional career as the Director of Engineering at Golden 1 Center Area in Sacramento, transitioning him to the greater role of President of Engineering at Eco, which he started in 2017. To see his entire professional background, visit https://www.linkedin.com/in/uzomaokoro.
While his career in Engineering is dear to his heart, Uzoma has a creative side. In 2015, he wrote, directed, and produced 'Moses', a short film that was highly acclaimed (http://sfbayview.com/2015/06/moses-tackles-human-sex-trafficking-in-africa-at-the-sf-black-film-fest-this-year/) at San Francisco's Black Film Fest. You can learn about his full entertainment background at his IMDB page http://www.imdb.com/name/nm6681580/.
Watch 'Moses'
https://www.youtube.com/watch?v=Hv1o-eiN6vg
Learn about his book, 'The Cocaine Saints'
https://www.wattpad.com/story/114011831-uzoma-okoro-the-cocaine-saints

View more

Who Does Joe Davis, Morgan Hill Help?

Joseph Davis, a philanthropist from Morgan Hill, CA -- has dedicated the latter half of his life to giving back to the community, particularly the homeless. See the photo below of him outside of a newly-renovated Mobile Shower & Laundry in his hometown.
His major goal of the next 5 years or so is to create, manage, and build upon a Homeless Encampment in the Morgan Hill / Gilroy area. He was featured in an article about it back in 2013: http://www.gilroydispatch.com/news/city_local_government/advocates-for-the-homeless-propose-legal-encampment/article_bcb2e2d0-7b5d-11e4-bc15-6fb482000728.html.
While he was a working man, he took part in the creation of 34 different patents, particularly in the field of optics & optical currents. His full list can be viewed here: http://www.patentbuddy.com/Inventor/Davis-Joseph-E/7946408

View more

Jim Lacey Thousand Oaks: Where Have You Done Business?

Jim Lacey: Thousand Oaks, Westlake Village, Los Angeles, Orange County, and the Central Coast.
Established adjacent to Westlake Village, CA, Jim Patrick Lacey has enjoyed a lengthy and impressive career as an authority in all components pertaining to the consumer products sector, primarily snacks and healthy products. Lacey has partnered with a number of standout local and intercontinental companies, leveraging his expertise in sales, advertising and marketing, executive management, and improving existing brands into marketplace forerunners. Mr. Lacey additionally has had about 15 years of practical experience establishing his very own companies as a business owner (Healthy Ventures, LLC as well as founded Crunchies), functioning as a business expert and as a top consumer goods developer.
Jim's Crunchies Food business was certainly his largest business success as of today. The Thousand Oaks, California-based establishment climbed from meager beginnings only to emerge as a snack industry leader with his high-level guidance. Crunchies opened up as a small-sized office-based company in early 2005 in Southern California. By the year 2014, the firm was the number 1 freeze-dried packaged snack food producer throughout the United States, as cited by Nielson Research study. Crunchies had landed distribution in a large number of consumer channels like mass convenience stores, drug retailers, club retailers, all-natural food retailers, the army, all-natural suppliers, and private health food retailers. Crunchies Natural Foods increased its existing product line offerings to 32 assorted vegetable and fruit snacks and ran a 17,000 sq foot production and distribution warehouse in Thousand Oaks, California.
Out of his distinct duties as the firm's co-founder and CMO, Lacey supervised day-to-day transactions and created sales and promotion techniques to boost profits. By using the knowledge he acquired at global snack and nutritional organizations, he managed to successfully tackle settlement agreements, merchant sourcing, as well as licensing/trademark creation. Lacey sold off the firm in the year 2015.
Jim P. Lacey, Thousand Oaks small business owner and accommodated snack food industry pioneer, obtained his academic training attending Cal Poly SLO in the town of San Luis Obispo. James obtained a Bachelor's degree from the School in the year 1981. In his study, he chose business management, along with a concentration in advertising & marketing.

View more

Sonya Dudley: Who introduced you to Plexus? Do you have any regrets?

From Sonya Dudley:
"My BFF Helen introduced me to Plexus, although it was not my first experience with network marketing. I had been doing network marketing since I was 19 to help with the bills through college and it was flexible. I loved helping people, I loved the flexibility and I loved the personal growth that industry encouraged. So my Senior year in college, after attending my FIRST ever convention, I chose to go full time. I was told by my upline I needed to go to my first convention because I had sold enough to win my diamond ring and I would get to walk across stage and pick it up in a formal gown. I WAS THERE.... I earned my first car at 21 and never looked back. I worked it full time for 16 years of my 17 with that company. 10 cars, many prizes, tons of fun, but not a great income I could count on, I loved it. I never missed a convention or any opportunity to grow for that matter.
https://www.youtube.com/watch?v=5aiJv32se5g
To learn more, visit: https://www.youtube.com/user/sonyaldudley

View more

Next