Shareholders and owners of closely-held businesses who are looking for the right exit strategy to diversify their portfolio and plan for the next phase of life have numerous alternatives to consider.
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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.
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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.
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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.
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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.
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