Journey to an ESOP & Beyond
Jason Miller & Makenzie Wirth
ESOPs are gaining traction. In the "Journey to an ESOP & Beyond” podcast, Doeren Mayhew's Jason Miller and Makenzie Wirth explain the process of the ESOP transaction and address ESOPs from a business owner's perspective. They illuminate the simplicity of ESOPs and debunk common misconceptions that ESOPs are immensely costly and complicated.--“Doeren Mayhew" is the brand name under which Doeren Mayhew Assurance and Doeren Mayhew Advisors, LLC and its subsidiary entities provide professional services. Doeren Mayhew Assurance and Doeren Mayhew Advisors, LLC (and its subsidiary entities) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. Doeren Mayhew Assurance is a licensed independent CPA firm that provides attest services to its clients, and Doeren Mayhew Advisors, LLC and its subsidiary entities provide tax and business consulting services to their clients. Doeren Mayhew Advisors, LLC, DM Payroll Solutions, Doeren Mayhew Capital Advisors and their subsidiary entities are not licensed CPA firms.
Episodes
Mentioned books
Nov 7, 2022 • 44min
EP31 - Oceans 11 - Las Vegas - what questions should I ask at the ESOP conference!
This episode connects with my very first episode called “enough information to be dangerous” - the premise being that when you go to an ESOP conference there is so much information it can sometimes feel where should I start? I took some very specific questions and discussed them in detail so that you have some ideas of what to focus on depending on whether you are going to the conference on your journey to an ESOP or if you have already arrived and have an existing ESOP company.
Oct 25, 2022 • 42min
EP30 - Dancing with the DOL - interview with Wayne Isaacks
This episode covers an interview with Wayne Isaacks - ESOP trustee (attorney and CPA) to better understand how an ESOP could be interacting with the Department of Labor. Wayne and I cover a case study that he was involved with and illuminate some best practices and alleviate DOL concerns for companies heading toward an ESOP or existing ESOP Companies. There is some wisdom here that I think is solid related to how to respond to a DOL investigation.
Oct 11, 2022 • 35min
EP29 - Should I stay or should I go? Stepping into your succession plan using an ESOP
This episode we explore the difficulties of the why should I go - the ultimate question to either begin or continue your succession plan. We explore the reasons why you really should plan to go - and how an ESOP could provide an incredible platform to execute successfully on this strategy.
Sep 27, 2022 • 49min
EP28 - NCEO Book Launch: “Ownership: Reinventing Companies, Capitalism, and Who Owns What” - Interview with Corey Rosen
The ESOP Guy interviews Corey Rosen the founder of the NCEO to discuss Corey’s new book on how ESOPs have the best chance to solve a multitude of issues in the US - notably the wealth gap. Corey and I discuss the book as we go through the outline of his book “Ownership: Reinventing Companies, Capitalism, and Who Owns What”
Sep 19, 2022 • 38min
EP27 - Happy Gilmore - ESOP transactions using a hockey stick projection!
This episode provides some insight into how forecasting can influence the approach to an ESOP transaction. Typically we don't see a lot of forecasts that are overly aggressive as future growth tends to follow historical growth. However, there are circumstances that justify a strong forecast that are going to have some implications in fair market value. Happy Gilmore helps bring to light that sometimes the unlikely can happen as he reminds us all with his crazy hockey stick drives.
7 snips
Sep 9, 2022 • 36min
EP26 - ESOPs and real estate - interview with Jim LaHam and Justin Knox - tax partners with Berman Hopkins CPA
Tax partners Jim LaHam and Justin Knox discuss the challenges of ESOPs purchasing real estate within a company. They explore solutions such as transferring real estate to selling shareholders but caution on tax implications. Topics include navigating tax complexities, maximizing real estate value through strategies like cost segregation studies, and structuring ESOP transactions in S corporation and C corporation environments.
Aug 30, 2022 • 37min
EP25 - Take this job and shove it - The Great Resignation - How do ESOPs help retain employees?
This episode evaluates the issue of the "Great Resignation" and how ESOPs are a great tool to support employee retention. We cover some of the top reasons people are leaving their jobs. Some of the direct benefits of an ESOP company to improve the overall quality of jobs and how important it is as we move into the future to provide something more for people to build a long-term career with a company.
Aug 18, 2022 • 39min
EP24 - Potential issues for ESOPs during recessionary times with Michael Miller - ESOP Trustee.
The economy is difficult to predict but if we have a downturn how will that affect your ESOP? This episode provides a good overview for both companies moving into ESOP and those existing ESOPs as it relates to working through potential issues of a downturn with seasoned expert ESOPs trustee and benefit plans - Michael Miller.
Aug 9, 2022 • 38min
EP23 Cruella de Vil - part 3 Making the Best Presentation for your ESOP
This episode is the finale in a three part series discussing the elements of your CIM - confidential information memorandum - to best support your presentation during the site visit with the trustee and valuation firm. This podcast highlights the importance of reviewing the financial information both historical and forecast as well as understanding the working capital. It also delves into discussions around the ESOP transaction so that any potential issues can be clarified within due diligence and prior to negotiations.
Jul 28, 2022 • 40min
EP22 - How does a joint venture affect 409(p) with Cass Hollis - ESOP attorney from Bryan Cave Leighton and Paisner out of Atlanta GA
This episode focuses on the general issues of 409(p) as it relates to S-Corp ESOPs and the nuances of how a company's other interests could affect compliance with the anti-abuse test. Cass Hollis offers a depth of wisdom and experience on the topic to point out to companies on a journey to an esop what to look for and potential solutions to work through the issue.
