ESOPs: An Exit Plan for the Retiring Business Owner

An Employee Stock Ownership Plan, or ESOP, offers a tax advantaged way for a business owner to get liquidity from the business while sharing the benefits of ownership with the employees. Due to the complexity of ESOPs and the endless ways to customize ESOPs, this article is very high level and has overgeneralized many details.  …

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What Are We Reading?

What is Beacon Hill staff reading this summer? Find out below! Mark: I am currently reading “12 Rules for Life: An Antidote to Chaos” by Jordan Peterson and “Thinking, Fast and Slow” by Daniel Kahneman. Anne: I am actually reading “1493 Uncovering the New World Columbus Created” by Charles C. Mann for a second time! …

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What is the Federal Funds Rate?

The federal funds rate is the interest rate at which banks lend funds to each other from their deposits at the Federal Reserve (the Fed), usually overnight, in order to meet federally mandated reserve requirements. Basically, if a bank is unable to meet its reserve requirements at the end of the day, it borrows money …

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Building Confidence in Your Strategy for Retirement

Each year, the Employee Benefit Research Institute (EBRI) conducts its Retirement Confidence Survey to assess both worker and retiree confidence in financial aspects of retirement. In 2018, as in years past, retirees expressed a higher level of confidence than today’s workers (perhaps because “retirement” is less of an abstract concept to those actually living it). …

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Tax Benefits of Homeownership After Tax Reform

Buying a home can be a major expenditure. Fortunately, federal tax benefits are still available, even after recent tax reform legislation, to help make homeownership more affordable. There may also be tax benefits under state law. Mortgage interest deduction One of the most important tax benefits of owning a home is that you may be …

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