Many business owners are always looking to motivate their employees, generate better results and save themselves some taxes. On a prior episode, we discussed a retirement plan and succession tool called an employee stock ownership plan, or ESOP.
In today's discussion, we're diving deep into the tax considerations for business owners when utilizing an ESOP, and what you should be thinking about before initiating a program like this.
Chapters:
0:00 - Introduction and overview on the topic of the day
1:50 - How an ESOP works and who it works best for
3:52 - Why an ESOP would be beneficial for a business from a tax perspective
6:47 - How an ESOP can benefit the business owner from a tax perspective
8:52 - A story covering a client that leveraged an ESOP for his business
12:58 - How to get in touch with Homer and his team
16:15 - Closing remarks
Connect with Homer Smith: