Welcome to your August Issue of the ESOP Report. This month we've packed the report with tons of articles and news about ESOPs that you won't want to miss!
Inside this Issue:
The ESOP Association
ESOP Association Resources
Aug. 15
Inside this Issue:
Our Chapter Stands Tall this Year
Help Us Stand Taller
Hawaii Chapter 2023 Annual Conference
From Home Garage to National Leader
Read the full Newsletter Here >>
Our Chapter Stands Tall this Year
Help Us Stand Taller
Hawaii Chapter 2023 Annual Conference
From Home Garage to National Leader
Read the full Newsletter Here >>
Aug. 15
Employee retention is a critical challenge faced by organizations in today’s dynamic business landscape, especially with the recent surge in turnover.
A high turnover rate not only disrupts workflow but also increases an ESOP’s costs associated with recruitment, training, and lost productivity. In this article, we’ll explore several strategies that ESOPs can use to attract and retain the most talented employee owners.
A high turnover rate not only disrupts workflow but also increases an ESOP’s costs associated with recruitment, training, and lost productivity. In this article, we’ll explore several strategies that ESOPs can use to attract and retain the most talented employee owners.
Aug. 10
In late June, ESOP PAC hosted a fundraising event for Congressman Jason Smith (R-MO), an ESOP champion and chair of the powerful House Committee on Ways and Means. Ways and Means is a key committee of jurisdiction for ESOPs as it is responsible for writing our tax code, along with its counterpart in the Senate, the Finance Committee.
Aug. 09
Notice to Taxpayers is Heavy on Innuendo, Light on Specifics
WASHINGTON, DC – The Internal Revenue Service today issued a statement suggesting a greater focus in the next year on S-Corp ESOPs and tax compliance, particularly for companies with a parent holding or management company structure and certain owner finance arrangements. While very short on specifics, the IRS communication appears to be driven by aggressive marketing of ESOP plans by some, although the IRS provides no specific examples of where an ESOP has been used in the manner they suggest.
WASHINGTON, DC – The Internal Revenue Service today issued a statement suggesting a greater focus in the next year on S-Corp ESOPs and tax compliance, particularly for companies with a parent holding or management company structure and certain owner finance arrangements. While very short on specifics, the IRS communication appears to be driven by aggressive marketing of ESOP plans by some, although the IRS provides no specific examples of where an ESOP has been used in the manner they suggest.
Aug. 08
The shared passion for employee ownership is something that runs deep throughout the ESOP community. It’s something we all feel strongly about, and a key driver of why the ESOP model works for so many millions of Americans. But what is it, scientifically, about ESOP culture that fosters this pride among employee owners?
Aug. 03
Earlier this year, The ESOP Association announced the first Chapter expansion since the 1990s to better serve our membership, reinstating a standalone Florida Chapter and creating the Rocky Mountain Chapter, serving Arizona, Colorado, New Mexico, Utah, and Wyoming. TEA is excited to announce our newest chapters are already making great progress, and both will be hosting their inaugural conferences in August (Florida) and September (Rocky Mountain)!
COVID-19, remote work, hoteling, third shift
Apr. 27
As companies mull how to return to work, they may want to consider ways that the workplace may need to shift and adapt to the COVID-19 pandemic. Here are some thoughts about how the future may look.
Apr. 27
There has been a clear shift in the political environment propelled by public discussions of certain large, public companies obtaining loans under the Paycheck Protection Program (the “PPP”) authorized by the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), including Shake Shack, Ruth’s Chris and others[1]. During this time, many small businesses have been quoted in the press expressing frustration with their inability to access the PPP program prior to the first round of guarantee authority being exhausted.
Apr. 24
New guidance assures that ESOP companies are eligible for key federal relief under the Paycheck Protection Program.