Getting Their SliceSave money, and keep employees happy with stock ownership plans.
ByJoan Szabo•
Opinions expressed by Entrepreneur contributors are their own.
S corporations offer a plethora of tax benefits, but one you maynot have considered involves Employee Stock Ownership Plans(ESOPs). Nova Engineering, a Cincinnati-based S corporation, hasdiscovered the tax benefits of ESOPs. CFO Jeff Wyatt says theESOP's tax-deferral benefits have been a boon to thecompany's cash flow.
Wyatt says Nova established an ESOP in 1998 because the companyleaders strongly believed in employee ownership. Owning a piece ofthe pie has also made employees more committed and dedicated to thesuccess of Nova, Wyatt believes. "The best thing about theESOP is what it has done for the employees," he says. "Asowners, they are motivated to do the best work for us."
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