Tips for Getting Tax-Deferred Money Out of Your Business
Kerry M. Lavelle • May 4, 2026
In this Lavelle Law Minute, Kerry Lavelle explains how business owners can access tax-deferred money beyond traditional 401(k) and profit-sharing plans. He highlights two selective strategies for key employees or management: Deferred Compensation Plans and Cash Balance Plans. Both approaches allow business owners and key team members to earn money while deferring taxes. If you have questions about these strategies, contact Attorney Kerry Lavelle at 847-705-7555 or klavelle@lavellelaw.com.
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Thinking of selling your business ahead of retirement? Business owners should begin preparing when they enter the “red zone” before retirement - not wait until they’re ready to retire. Kerry Lavelle explains this and more in the Lavelle Law Minute video, "Options and Tips for Selling Your Business."

On August 20, 2026, the Internal Revenue Service announced a digitally authenticated Tax Compliance Report available through IRS Individual Online Accounts.
Taxpayers can securely obtain and download the report when applying for a job, a loan, a government benefit, or another service that requires tax compliance info.

On August 5, 2026, the Internal Revenue Service issued Notice 2026-28 providing guidance on the employer credit for paid family and medical leave (“PFML”) under the Working Families Tax Cuts (“WFTC”). The WFTC makes permanent and expands eligibility and coverage for employers offering PFML benefits to employees.







