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October 2, 2020 An employee stock ownership plan (ESOP) offers you the opportunity to secure your business legacy in a variety of ways. There will always be a tax-exempt buyer for the stock of your company, and you can continue to guide the culture that has benefited your employees and customers over the years. Plus, […]
September 4, 2020 Business owners search for business succession solutions that are financially fair, low cost and tax efficient while also beneficial for employees and customers. The universe of solutions is usually limited to the following: Transfers to family members which, with family trusts, can be relatively tax efficient for set periods of time, but […]
August 12, 2020 The Temporary Federal ESOP Grant Act, S. 4236, introduced on July 21, 2020, and sponsored by Sen. Ron Johnson (R-WI) and Sen. Tammy Baldwin (D-WI), could be a major event for the ESOP community. The major provisions, as currently written, are set forth below. ESOP Grant Act Current Version A grant from […]
During the best of times and during the worst of times, companies with employee stock ownership plans (ESOPs) have proven to perform better than non-ESOP peer companies as measured by profitability, jobs gains and fewer job losses. Long-term studies conducted at the University of Pennsylvania and at Rutgers University have indicated higher profitability, higher job […]
The SECURE Act became law on December 20, 2019. Retirement plan sponsors, fiduciaries, and third party administrators must understand and implement several changes in pension law that affect employee stock ownership plans (ESOPs), 401(k) plans, and simplified employee pension plans (SEPs). Walter | Haverfield is providing this summary of key provisions to our valued clients […]