In a competitive workplace, companies are constantly seeking ways to enhance employee engagement and drive performance. One effective strategy that has emerged is the Employee Stock Ownership Plan (ESOP). By giving employees a stake in the company, ESOPs can lead to increased motivation and productivity. This post explores how to start an ESOP, how it operates, its pros and cons, and identifies businesses that could benefit from such a plan.

The IRS has recently introduced the new Schedule 1-A Form as part of the One Big Beautiful Bill, a significant piece of legislation from the Trump Administration. This new form allows taxpayers to deduct various benefits, including overtime pay, tips, car interest, and more. For many employees, especially those working overtime or considering a new car purchase, this could mean serious savings come tax season.