ESOP Advisor in Country Life Acres, MO

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ESOP advisor in Country Life Acres, MO. Employee stock ownership plans (ESOPs) are becoming a more and more common retirement benefit for employees in various industries in Country Life Acres, MO. They offer business owners a chance to step away from their company while greatly reducing taxes on the sale, and offer employees a tax-advantaged retirement plan that builds their productivity and motivation. However, designing, implementing, and maintaining an ESOP isn't something most Country Life Acres, MO business owners can do without professional help. Correct Capital's seasoned and savvy ESOP advisors help businesses of all sizes, in Country Life Acres, MO and around the country, create tailored retirement plans that benefit themselves, their employees, and their profit.

If you're looking for an experienced financial partner in Country Life Acres, MO who shares your goals of setting up your company and employees for long-term success, call Correct Capital at 877-930-4015, contact us online, or schedule an appointment with one of our financial advisors immediately.


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About Employee Stock Ownership Plans (ESOPs)

An ESOP is a tax-advantaged retirement plan where employees receive shares of the company they work for, rather than savings funds or investments in other companies such as in a 401(k). ESOPs are fully funded by the employer, and often times shares offered to employees are not controlling shares, meaning control of the company stays with ownership and other executives. They offer excellent incentives to employees while providing businesses with an enhanced value proposition to employees, and allow business owners to set up a succession plan while preserving control. When they retire, most employees sell the stock at market value value.

Of special interest to business owners, by selling part of your ownership to the ESOP, owners can defer capital gains taxes, allowing you to spread out the tax consequences of the sale instead of having to pay taxes right away. In many cases, ESOPs are a succession plan that keeps the most amount of money achievable with the owner.

Benefits of an Employee Stock Ownership Plan

  • Sell a portion of your business (minimum 30%) with deferment of capital gains taxes (provided you reinvest into qualified replacement securities)
  • Additional tax deductions through contributions made to employees
  • If the business is one day 100% owned as an S-Corp by the ESOP, it's free from federal income taxes
  • Align the goals of employees and stockholders
  • Offer a higher value proposition when hiring
  • Improve employee motivation and productivity
  • Improve employee retention and loyalty
  • Facilitate succession planning and business continuity
  • Retain control while arranging or easing into retirement
  • Raise personal liquidity of owners, but still keep control of the company
  • Carry on your business' legacy and culture

What About KSOPs?

A KSOP is a qualified plan that is a mix between an ESOP and a 401(k). Ownership shares are provided to employees as in an ESOP, employees can contribute their own money to buy additional stock through payroll deductions, or the company can match employee contributions with stock rather than cash.

Setting up a stock ownership plan doesn't have to exclude your employees from the risk tolerance that comes with diverse investments. In fact, including an ESOP or KSOP to a more traditional retirement plan allows you to receive the benefits of both. The experienced Country Life Acres, MO ESOP advisors and retirement consultants of Correct Capital can assist you find the best retirement plan for you, your business, and your employees.

What Our Country Life Acres, MO ESOP Advisors Do for You

Whether you're moving on from ownership of your company or are interested in an ESOP's other benefits, you'll need a knowledgeable Country Life Acres, MO ESOP advisory firm to partner with to reap the most benefits of your plan. When you work with Correct Capital, we:

  • Minimize your tax liability as much as possible — When you sell your ownership shares to an ESOP, you can reinvest the proceeds in different securities to defer capital gains taxes on the sales, permitting you to retain more of the profit. To defer capital gains taxes, your ESOP advisor can help you perform a Section 1042 exchange by selling at least 30% of your company to the ESOP and reinvesting that money in qualified replacement securities or QRP. Taxes would be owed until the taxpayer has a disposition of the QRP. An ESOP advisor can ensure you receive the most tax benefit from your ESOP.
  • Personalize your ESOP and retirement plans — Along with your team, we'll develop and set up an ESOP suited specifically to you and your company. We like to test ourselves and our clients to get creative with retirement plan offerings to maximize the benefits they offer. We'll assess your needs, analyze several ESOP options, and recommend a tailored ESOP that meets legal requirements and is aimed at optimizing benefits. If we believe it's a good idea, we may also recommend combining an ESOP with a 401(k) or alternative retirement plans to further increase benefits, without sacrificing efficiencies.
  • Conduct a ESOP feasibility study — When we first meet with our clients, we work to grasp their needs and collaborate with them to identify the best qualified retirement plans for their company. For clients looking at an ESOP, part of that means conducting a feasibility analysis to ascertain if it's a workable option for your company. We'll examine:
    • Cash flow, debts, and overall financial health
    • Ownership structure to understand how it'll be affected by introducing an ESOP
    • Employee demographics to understand how they're best served
    • Tax implications for both your company and shareholders
    • Company culture and employee engagement to assess if an ESOP is likely to be well-received and supported

    What if your business isn't a great fit for an ESOP? We'll partner with you to find a retirement or succession plan that works for you.

  • Connect you with valuation firms and trustees — Implementing and maintaining an ESOP involves a lot of moving parts, including accountants, attorneys, and a trustee to purchase stock of the company on behalf of the ESOP. An experienced ESOP advisor with a strong network in Country Life Acres, MO can help you arrange your ESOP team with trusted partners.
  • Ensure compliance — IRS, Department of Labor, and ERISA all have strict requirements for the management of employee stock ownership plans. For example, when employees participating in an ESOP at a closely held employer receive company stock in an ESOP distribution, they have the right to ask for the employer to redeem them at market value.
  • ESOP sustainability assessments — In an ESOP, shares are granted to employees over time based on seniority of service. Usually, that means ownership of the company is passed to the ESOP in stages. Depending on how you structure your company and the plan, your ESOP may start with 30%, but could ultimately achieve 100% ownership. As the plan develops and matures, so will its implications for your company. ESOP advisors can plan for these changes and adapt to them in real time, enabling your plan to stay viable, compliant, and beneficial.
  • Employee communication and education — Our ESOP advisors offer group sessions and personalized meetings with your employees so they can maximize the benefits from your employee stock ownership plan. With an ESOP advisor from Correct Capital, your employees won't just attain a share of your company, but they'll feel like they're achieving ownership of their financial stability and eventual retirement.

Why Choose Correct Capital as Your ESOP Advisor in Country Life Acres, MO

Correct Capital is an independent advisory firm that specializes in assisting business owners create retirement plans and succession plans for their companies. There are multiple factors we believe make us unique from other investment advisory agencies in Country Life Acres, MO, and across the nation:

  • We know retirement plans and ESOPs. Correct Capital's clients currently operate these plans in a range of sectors, including for construction companies and contractors. As we work with both businesses and individuals and families when managing retirement plans, we're perfectly positioned to understand the needs of each and develop a plan that meets the necessities of both, as well as those of your stockholders.
  • As independent fiduciary advisors, we are lawfully and morally bound to do what's in the best interest of you, your employees, and your company. We aim to forge long-term relationships with our clients based on trust and the mutual goal of expanding your and your employees' wealth.

Other services we offer in Country Life Acres, MO:

ESOP Advisor in Country Life Acres, MO | Retirement Consultants | Financial Advisors Near Country Life Acres

Call Correct Capital to Speak With an ESOP Advisor in Country Life Acres, MO Today

If you're interested in learning more about ESOPs or desire to start the process of setting one up for your Country Life Acres, MO business, contact a Correct Capital ESOP advisor today. Let us do what we do best so you can prioritize on what you care about most: establishing yourself, your business, and your employees up for success. Contact with one of our Country Life Acres, MO ESOP advisors now at 877-930-4015 or contact us online.


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