You may have to hire an accountant or do some research, but this is your hard earned money and the government wants to
encourage small business ownership with these deductions, so take advantage of this as soon as possible.
S. 1212, introduced by Senators Cardin and Roberts, contains several provisions to further
encourage employee -
ownership in S corporations, including extending the gain - deferral provisions of Code section 1042 to sales of employer stock to S - ESOPs, providing resources to
small businesses contemplating making the transition to an ESOP, and ensuring that SBA - certified
small businesses do not lose their status by becoming employee owned.