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Employee Stock Ownership Plans with Jeremy Huish
Manage episode 431404325 series 3445240
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In this episode of the Better Leadership team Show, I chat with Jeremy Huish, VP at Corporate Transition Consulting, about the benefits of Employee Stock Ownership Plans (ESOPs). Jeremy shares his journey from tax attorney to ESOP advocate, explaining how ESOPs benefit business owners, companies, and employees.
Jeremy Huish started his career as a tax attorney. After years of being an attorney and consulting, Jeremy realized that the largest transaction his clients will ever do is to sell their business, and the largest tax bill that these clients face is the tax bill on that business sale. He then fell in love with Employee Stock Ownership Plans, also known as ESOPs, because that transaction benefits the owner, the company, and all the rest of the employees who never had a chance to own a business.
Thanks for listening! Connect with us at mike-goldman.com/blog and on Instagram@mikegoldmancoach and on YouTube @Mikegoldmancoach
Chapters
1. Employee Stock Ownership Plans with Jeremy Huish (00:00:00)
2. Jeremy's Academic Journey (00:02:12)
3. Focus on Employee Stock Ownership Plans (ESOPs) (00:03:05)
4. Understanding ESOPs: Basics and Benefits (00:05:09)
5. Employee Perspective on ESOPs (00:08:22)
6. When Should Business Owners Consider ESOPs? (00:12:53)
7. Tax and Financial Implications of ESOPs (00:20:52)
8. Setting Up and Managing an ESOP (00:29:37)
9. Challenges and Downsides of ESOPs (00:31:44)
10. Steps to Pursue an ESOP (00:35:27)
11. Conclusion and Contact Information (00:38:55)
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