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Podcast: The Compassionate Capitalistâ„¢ Show with Karen Rands
Episode: 831B Plan - Could be the Secret to Saving Your Business in Hard Times with Ed Bryan
Description: There are many aspects of a business's ability to thrive that are predictable.  Just as in life, businesses can be negatively impacted by things that can't be predicted and even preventive.   There are legal documents like Buy-Sell Agreements, and insurance products like Key Man Insurance, and technology protocols like continuity and redundancy services. The 831(b) is little known tool that businesses can use to 'self-insure' with pre-tax dollars. Much like the 401(k) tax code allows an employer to set aside tax-deferred dollars for retirement, the 831(b) tax code allows a business to set aside tax-deferred dollars for underinsured and/or u...