ESOP Article Overdue

BY NORM KOCOL, CPA

I am a CFO associated with a 100% employee-owned company. I found Scott Miller’s article (“The ESOP Exit Strategy,” March 10, page 32) very timely and long overdue.

 

It is my opinion that the ESOP tool is one of the best—if not the best—available tools for owners of companies to transfer ownership to people who helped enhance the owners’ wealth.

 

It is unfortunate that many who work closely with owners in the financial services area do not know about the ESOP tool or do not understand ESOPs.

 

Norm Kocol, CPA

Johnsburg, Ill.

More from the JofA:

 

 Find us on Facebook      Follow us on Twitter

 

SPONSORED REPORT

States look to unclaimed property for revenue

This free report outlines the escheat process, common types of AUP, how different states are handling it and how companies can plan for potential audits and liabilities.

PODCAST

Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.