Touchstone Talks: Ep. 12 - Demystifying ESOPs: What Business Owners Need to Know Before Selling
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Touchstone Talks: Ep. 12 - Demystifying ESOPs: What Business Owners Need to Know Before Selling
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About this listen
Demystifying ESOPs: What Business Owners Need to Know Before Selling
In this episode, Deborah is joined by Rich Glassman of ESOP Plus LLP. Rich shares his extensive knowledge of Employee Stock Ownership Plans (ESOPs), what he considers to be the best-kept secret in the tax code. Learn why ESOPs are a good option to explore when selling your business.
Rich breaks down what an ESOP is, how it works and how it benefits the seller and the company. He addresses some misconceptions including complexity, cost and risk as well as future requirements and costs for the ESOP going forward. Drawing on his background in banking, management, a family-owned business and ESOP law, Rick encourages owners to keep an open mind, seek experienced advisors, and thoughtfully consider whether employee ownership could be the right option for your exit.
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