Article
Deadline Approaching: Establish an ESOP Retroactive to 2024 and Claim a 2024 Tax Deduction
May 15, 2025ArticleDeadline Approaching: Establish an ESOP Retroactive to 2024 and Claim a 2024 Tax Deduction
May 15, 2025S and C corporations can implement an ESOP for the 2024 tax year by acting before fall deadlines, allowing tax deductions despite 2024 ending. Changes in tax law now offer flexibility to close transactions anytime, retaining tax benefits and employee incentives.