CARES Act & Charitable Giving Incentives
The CARES Act and Charitable Giving Incentives The Coronavirus Aid-Relief and Economic Security Act (“CARES”) enacted on March 27, 2020 contained significant provisions related to charitable deductions, providing many individual and corporate donors with greater flexibility in making gifts to non-profit organizations. New Deduction for Qualified Charitable Donations Individuals who do not itemize their deductions…
ESOP Contributions and PPP Loan Forgiveness
Many of you may have received Paycheck Protection Program (PPP) Loans. Once the loan has been received the next step is spending the proceeds on eligible expenses in the proper timeframe to achieve forgiveness of the loan. In order to maximize the forgiveness, consider making a contribution to your ESOP plan during your window for…
The Power of an ESOP To Grow and Sustain a Business
Like most businesses, the Coronavirus has greatly affected the day to day operations of Minneapolis headquartered H2I Group. However, the 100% employee-owned company has not been YET significantly affected from an employee engagement and productivity standpoint. Like most companies, there are still potential challenges in the coming months as to sales, revenue and profitability. But the question of the day is – does their employee ownership model make their success in these times possible?
The Minnesota Center for Employee Ownership Launches
New Resource to Help Baby Boomer-owned Businesses With Succession Planning
Minnesota Employee Ownership Legislation Introduced in the Senate
On March 9, 2020, a bill designed to stimulate the creation of employee-owned businesses and ultimately preserve jobs in Minnesota was introduced in the Minnesota Senate and referred to the Senate Taxes Committee.