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Suggest who benefitsDashboard: A Few Ideas to Really Help Small Businesses
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Suggest questionThis week, Peter Koehler, who helps businesses with their operations, finances, and succession planning, points out that small businesses are not just mini-versions of big businesses. In fact, he says, they’re an entirely different species, and he believes the federal tax code should treat them as such. In our conversation, he suggests a few changes -- tiered payroll tax rates, a startup tax credit to cover professional services, an expanded qualified business income deduction -- that he thinks might restrain our slide toward ever greater consolidation.
About 21 Hats
The proponents of employee stock ownership plans can make them sound like the greatest thing ever. A business owner can take a big chunk of money off the table—or even all of it—while still getting to run the business. And there are some pretty great tax breaks. Oh, and it will also solve income inequality in America. On the other hand, if ESOPs are so smart, why are there so few of them?
Jim Kalb of Triad Components Group in San Diego and Jeff Taylor of Crafts Technology in Chicago have both implemented ESOPs. Jay Goltz of the Goltz Group in Chicago has reached his 60s without a succession plan, and he’s considering his options. In this 21 Hats Conversation, you get to listen in on a street-smart discussion of the pluses and minuses of ESOPs from the business owner’s point of view.