👋 Meet Zolid AI
Here to support your company's exit journey — Zolid AI can answer questions and provide insights. Free for now, with fair usage limits.
Your conversations are not shared with others. We may review them to improve Zolid AI.
Zolid AI may provide inaccurate info, so verify responses.
No quick summary yet. Be the first to add a quick summary.
Add quick summaryNo information listed yet. Be the first to add who benefits from this content.
Suggest who benefitsIt’s a Pile of Money
No detailed summary yet. Suggest a summary to help the community.
Suggest summaryNo questions listed yet. Be the first to add a question for this topic.
Suggest questionThis week, Paul Downs makes two seemingly contradictory points: One is that his business is on track to have its best year ever. The other is that he expects to claim another huge government subsidy, courtesy of the recently enhanced Employee Retention Tax Credit. As Paul says, if you don’t know about the ERTC or if you don’t know that its requirements have been relaxed, you probably should check it out. Meanwhile, Jay Goltz tells us what happened when three employees found out what the others were being paid, and Dana White feels a little deflated after talking to an investment banker. Plus: Paul shares his new strategy for coping with the labor shortage.
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.