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The first advantage of creating an ESOP is that it allows business owners to individually tap into cash, or, at least a more liquid investment position, without having to give up ultimate control of their business. A second advantage of an ESOP is that it also allows a business to reduce its federal income tax liability at any given level of profitability while still offering a valuable employee benefit to its workers, thereby increasing employee morale.
Contact UHY Corporate Finance to learn more about how ESOPs work, how to structure your ESOP, and if an ESOP is a right fit for your business. ESOPs also provide a number of significant federal income tax benefits to an employer, an employer’s shareholders and its employees, that our tax group can assist you with.
Our audit and assurance services help you get to know your business even better and on every level. We work with you to help you meet assurance demands. Our audits provide essential insights into the current state of your business and help you to envision and plan a stronger future for your organization.Learn More
Tax laws can be complicated, but we understand them inside and out. Business or personal, our substantial industry experience and invaluable insights to empower you to take control of your taxes. Trust us to ensure you’ll never pay more than your fair share of taxes when you work with us.Learn More
Our consultants collaborate with you to develop and execute specialized solutions uniquely tailored to your unique situation,through our specialized consulting services, we help you optimize profitability and growth, improve workflow and processes, identify and implement technologies, manage risk and compliance, and more.Learn More
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