Kirsch Goals and ESOP
What is the projected revenue for the company in 2025?
$11.8M
This Kirsch Owner has been skydiving.
Julia Jerger
What type of plan is an ESOP considered for tax purposes?
A tax-qualified retirement plan
How might an ESOP impact an employee's approach to their work?
They are owners—leading to increased motivation and engagement due to their ownership stake.
What percentage of taxpayers file electronically?
90%
What is the projected revenue growth percentage for 2025?
17%
This Kirsch Owner was the lead actor in high school and was even offered some college acting scholarships. However, they decided to pursue basketball.
Anthony Lewis
Do employees have to contribute their own money to participate in an ESOP?
No, it's typically fully funded by the company. Shares are allocated to employees over time based on factors like salary and years of service.
When someone has an idea about ways to help grow or improve the firm, where should they put it?
Ownership box (see something, say something to improve the firm)
Name four of the eight states that do not have an income tax whatsoever (According to TurboTax).
Wyoming, Washington, Texas, South Dakota, Nevada, Florida, Alaska, and Tennessee
What are the three guiding principles that led the company to become 100% employee-owned?
Culture, Clients, Financial Benefit the team
Staying true to our culture, being key advisors to our clients, and allowing the financial benefits to accrue to the team.
This Kirsch Owner has never mowed their lawn.
Elizabeth Michalak
Do employees pay taxes on contributions to the ESOP?
No, they only pay taxes on distributions from their accounts
Whose responsibility is it to grow Kirsch CPA Group?
(ME) Every member of the team
Prior to 1918, what was the due date for all taxes to be filed?
March 1st
What are the minimum number of work hours required for ESOP eligibility at Kirsch CPA Group?
1,000 hours
This Kirsch Owner decorates their workstation with Lego plants.
Michael DeVore
Why is company profitability important in an ESOP?
Higher profits increase the value of employee shares, leading to increased shareholder value
What is one of the strategies mentioned to hit the growth targets for 2025 at the last team meeting?
Increased focus on client work – be productive at least 10 more minutes a day.
Finding ways to increase efficiency, improve client relationships, or reduce costs.
What is the most famous tax protest in American history?
Boston Tea Party
What is one of the annual Kirsch goals?
Create a culture of high performance & accountability - Clarify expectations
Technology as a competitive advantage
Executing our differentiated service model
Building a culture of employee ownership
This Kirsch Owner had an Elvis-themed 10th Birthday Party.
Kate Elmore
What event determines the value of ESOP shares each year?
An independent valuation of the company.
What are two actions a team member can take to increase value?
Reduce waste and rework
Offer solutions to problems
Provide excellent client service
Live our core values
Own it – see something, say something
This state is home to many major blockbuster films because they offer companies a 20% tax credit if they spend $500,000 or more on production.
Georgia