Why Should Companies Consider Succession Planning?

Glenn Gelman & Associates

The success of a company depends on the quality of its leaders and the management team they put in place. Often times, owners of a business spend a great deal of time and resources to put a management team in place that is capable of driving profitability and competitiveness while instilling the right corporate culture in the company. Such positive measures in turn benefits the... Read More

How to Minimize Taxes by Forming an ESOP

ESOP Explained

In today’s competitive business environment, no company can afford to have disinterested, unproductive workers on its team. And while some firms opt for incentive programs and other perks to keep employees motivated and productive, others have found the answer in an innovative ownership structure know as an Employee Stock Ownership Plan or ESOP. At their simplest, ESOPs are tax-qualified,... Read More

Why Form an ESOP?

It is beneficial for both owners are employees: 1. Owners receive liquidity of ownership interest plus a market for future transactions; 2. Employees are rewarded by becoming part owners with a benefit that is tied to their company’s performance. There are significant tax advantages to the selling shareholders and the post-transaction company. The sale of company stock... Read More