I ESOPs #055
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An employee stock ownership plan (ESOP) is a tax-advantaged succession-planning vehicle and retirement plan that\\u2019s sometimes overlooked. Guest Cara Benningfield joins host Damien Martin to explain how ESOPs can help preserve the culture and legacy of a business and discuss the pros, cons and risks of an ESOP transaction.
TIME STAMPS OF WHAT\\u2019S COVERED
- Leveraged ESOPs @1:48
- Contributory ESOPs @3:41
- How ESOPs work @5:28
- Where to start when evaluating an ESOP transaction @10:56
- Situations where an ESOP isn\\u2019t a good fit @12:36
- Benefits of an ESOP @15:46
- Gain deferral under \\xa71042 @22:15
- Situations where ESOPs are particularly effective @29:24
- ESOPs after tax reform @32:14
- Common ESOP myths @42:47
- A practical example of an ESOP success @45:48
- Figure out what\\u2019s important @51:20
- It takes a team @52:48
BIO FOR GUEST
Cara Benningfield is a partner in BKD\\u2019s Bowling Green, Kentucky practice and leader of BKD ESOP Transaction Services Group. She structures and facilitates the creation of new ESOPs and works with existing ESOPs in matters ranging from acquisition structuring to repurchase planning and analysis. Cara\\u2019s experience with ESOPs also includes providing financing assistance, tax planning, ongoing plan administration, employee communication and structuring of executive incentive plans.
ADDITIONAL RESOURCES
Bonus Discussion: Why Cara Benningfield \\u2665s ESOPs
Video: Impacts of Tax Reform on ESOP Companies
Webinar archive: ESOPs: Continuing a Legacy
Articles:
- The Effect of Tax Reform on ESOPs
- 2018 ESOP Economic Performance Report Survey Results Released
- 100 Percent ESOP \\u2013 The First Six Months After Implementation
- ESOPs: Accounting for the Repurchase Obligation on Your Financial Statements \\xa0
GET MORE \\u201cSIMPLY TAX\\u201d
A complete archive of our episodes is available on our website and YouTube playlist.
We\\u2019d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.
Connect with Damien on social media!
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