an Intriguing Benefits Option
employee stock ownership plan (ESOP) is hardly a new concept.
But it remains an intriguing benefits option for many
An ESOP is a form of qualified retirement plan —
specifically, a profit-sharing plan. It allows employees
to own part of the company that employs them and then cash in
their shares when they retire or otherwise leave the business.
Generally, an employer creates an ESOP by setting up a trust
and contributing new company shares to it. The trust becomes
the legally recognized owner of the company shares and is
managed by a trustee who oversees the employees’ interests.
Once the ESOP is up and running,
the company makes annual, tax-deductible contributions that
fund participants’ retirement accounts.
ESOPs offer businesses some exciting advantages, including:
- Increased employee motivation,
- Ease of ownership transition, and
- Immediate tax benefits.
These arrangements, however, do present challenges.
They’re not easy to set up, and the
rules for plan distributions are complex. You’ll also
need to have a business valuation performed. What’s more, ESOP
fiduciaries have recently faced scrutiny by the Department of
If you think an ESOP might be a good fit for your company,
contact us at 925-634-2344. We can help you further assess
this type of retirement plan and, should it suit you, help
SMEED CPA Adds Financial
Services To Help Clients With
Investments & Insurance
often we here at SMEED CPA are asked about financial issues
that impact our clients investments and their portfolios.
We always offered our opinion and suggestions but in order to
help our clients actually execute the changes we suggest,
SMEED has created a Financial Services division.
SMEED Financial Services, Inc. will be able to
work with both individual and business clients on their
investment portfolios and manage assets on their behalf.
SMEED Financial will include Michael Uadiale,
ACA, CPA, CGMA; and Pablo Blanco who has
recently joined SMEED and comes with over 18 years of
financial sales and advising experience with affluent
Watch your inbox and mail boxes for more specific information
on services SMEED Financial Services, Inc will make available
Would You Give Me Your
Feedback & Testimonial
on Our Hotline?
Hello it’s Michael Uadiale, CPA of
SMEED CPA Inc. We’ve just installed a toll-free
number that I would like for you to call and tell me how you
think we are doing as your CPA firm.
Just dial 800-609-9006
extension 3638 and follow the instructions. If we’ve
done a good job please let me know. And if we can
improve on anything, please mention that too.
Us Be Found on
Also as we expand our business,
we find more and more people are using
YELP and Google
to look for us by searching Brentwood accountant or
When they do this we want to
be FOUND on GOOGLE. One way you can help us
is to give us an
ONLINE REVIEW on our Google Maps/Places listing --->
or on our YELP local listing
click here to go to our Google Listing for SMEED CPA and
click on the
YELP link to go there.
Scroll down to the Review area.
On either site it may say: Been here?
Rate and review
You will click on the Rate and
review link and then log in, then
give us a review!
You can choose between 1 and 5
STARS and write in what you think about the tax or accounting
work we have done for you.
It's that simple. Thank
you in advance for your help and cooperation!
As always you can call our offices if you have any
questions about these or any other accounting related issues, at
Regards, Michael Uadiale, CPA,
Managing Partner, SMEED CPA,