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Chapter 18_RF - directed back to Chapters 7 and 12 for...

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Chapter 18 ESOP/S TOCK B ONUS P LAN LEARNING OBJECTIVES: A. Have a basic understanding of stock bonus plans and ESOPs B. Identify key issues related to the use of an ESOP/Stock bonus plan for estate planning for shareholders of closely held businesses REVIEW: This chapter focuses on ESOP and stock bonus plans. The chapter begins by identifying such plans and describing when they might be used. Advantages and disadvantages are discussed next. In the section on design features, some space is given to the use of ESOP loans, allowing the employer to borrow money on a favorable basis. A section on tax implications includes some of the unique tax benefits related to the use of company stock in an ESOP. Readers are
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Unformatted text preview: directed back to Chapters 7 and 12 for information on ERISA and other regulatory requirements, and to Chapter 10 for plan installation information. The chapter ends with a question and answer section, with some focus given on estate planning for closely held business sharehoders. CFP® CERTIFICATION EXAMINATION TOPIC: Topic 61: Types of retirement plans B. Types and basic provisions of qualified plans 1. Defined contribution c. Profit sharing 4) Stock bonus plan 5) Employee stock ownership plan (ESOP) KEY WORDS: ESOP, stock bonus plan, ESOP loan...
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