Posts Tagged ‘ESOP’

The jungle of tax reform

April 11th, 2011
By: Tim Heston

On Friday night I was like a kid half-heartedly doing his homework while watching the weather and awaiting the snowstorm. I kept thinking the storm would close school (government shutdown), and I could stop this blasted homework (my income taxes).

Then at the 11th hour (literally: it was a little before 11 p.m.), the House speaker emerged--worn, weary, but determined--and told us all that our elected officials had agreed on a deal and avoided a government shutdown. Hearing the news, I changed my plans for Saturday and shuffled off to bed, dreaming of incomprehensible forms that I’m convinced were developed by megalomaniac accountants who wanted to make their jobs more interesting and grandiose. For them, addition and subtraction just weren’t enough. They needed amortization, depreciation, basis points, and line-by-line instructions leading taxpayers in vicious circles of confusion that turn what should be a logical exercise rooted in deductive and inductive reasoning into pure hell.

After finally filing, I had a thought: At some level, I actually was hoping the government would shut down--resulting in worldwide uncertainty and thousands without paychecks--just so I wouldn’t have to face my dreaded 1040. What’s wrong with this picture?

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Taking stock of employee ownership

May 25th, 2010
By: Tim Heston

Butch Munson has worked at the same metal fabrication company for 43 years, and in a few years he plans to retire. He’s had a good career at LeFiell Mfg. Co., a tube and specialty fabricator in Santa Fe Springs, Calif. Sure, the shop has had its ups and downs, but generally the company has always found a way to do things better and faster. The firm’s won numerous awards and has gained a reputation as a supplier manufacturers can count on. Most important, the financial well-being of every employee, including Munson, has benefited.

After all, they own the company.

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