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)!
Ownership Advantage, Legal Update, Congressional Testimony, Daniel Goldstein, House testimony, Sen. Sanders, ESOP Insurance, Redeem, Recycle
Feb. 27
Member Daniel Goldstein testifies before Congress on behalf of The ESOP Association, saying regulations and help with loans must be addressed now.
Feb. 21
Washington, DC, Feb. 20, 2020—The ESOP Association is pleased that employee ownership arose in the Democratic party Presidential debate last night and that multiple candidates were able to vocalize their support. We believe more Americans need to know about and participate in employee ownership—especially ESOPs, which are the largest and most common form of employee ownership—and would encourage greater discussion about this important form of business ownership in America.
Department of Labor, Adequate Consideration
Feb. 12
Daniel Goldstein, President and CEO of Folience, testified on behalf of The ESOP Association before the House Committee on Small Business. Feb. 12, 2020.