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Entries by Mark Flinchum

Succession Planning for Professional Services Firms: The ESOP Option

Posted 7:55 PM by
Employee stock ownership plans (ESOP) were traditionally viewed as acquisition vehicles used in transactions involving manufacturing or other capital-intensive businesses; however, more often, ESOPs are being considered and successfully used for the transition of ownership in professional services firms.
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Taking Stock of the ESOP Option: 9 Ways to Assess if an ESOP Is Right for Your Company

Posted 1:05 PM by
There are many angles and factors to consider when determining if an Employee Stock Ownership Plan (ESOP) is a company’s best option. Many leaders understand their employees might be their best succession plan, but they can lack the detailed knowledge to begin the process of determining if an ESOP is a feasible choice.
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Purge or Keep: How to Determine Record Retention Periods

Posted 2:56 PM by
The Internal Revenue Service (IRS) requires taxpayers to maintain documents and records that support tax positions and returns filed. The inability to produce documents under an examination can have harsh consequences on the outcome of a tax audit. Therefore, deciding how long to continue storing or destroying tax and company records can make file purging a risky task.
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