By now, all companies sponsoring ESOPs should be aware that their plan documents must be restated and submitted to the IRS every five years for a letter of determination of their tax qualified status. What they may not realize is that the ...
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ESOP Blog
ESOPS & Limited Liability Companies: Converting To A Corporation
Want an ESOP But Have an LLC? Convert!
Business owners frequently choose to operate as a limited liability company (LLC) because it provides for a less formal governance structure and the option to be taxed as a partnership. But, the ...
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Corporate Succession Planning And The CPA
There is no denying that all privately held companies will, at some point, be sold to or merge with a third party, transferred to family members, sold to their employees – or not survive. Very few companies have the option of going public. Because ...
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ESOP Distributions Policies: How Can You Modify Or Amend Them?
It is a fairly common practice for ESOP plan documents to contain references to ESOP distributions "policies" that are separate from the plan document itself and that are administered, or modified or amended, by plan fiduciaries (committees, trustees ...
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ESOPs: Common Misperceptions
There are some common misconceptions about ESOPs that should be addressed and dispelled. Unfortunately, many less than fully informed business owners and advisers hold them as truths. Many business owners mistakenly think:
An ESOP is a ...
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Succession Planning And The ESOP
Evaluating whether an ESOP is appropriate when it’s time to sell the business…
In ESOPs: The Three Types, we explain the three basic ways an Employee Stock Ownership Plan (ESOP) can be used to effectively motivate employees to increase ...
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