Collision shop owners exploring succession planning are hearing more about ESOPs—and for good reason. These employee stock ownership plans offer a unique way to create liquidity while keeping the business intact and rewarding the team that helped build it.

In this episode, Matt Di Francesco sits down with Steven Golden, ESOP expert and managing director at CSG Partners, to break down what makes these plans so powerful. From Section 1042 tax rollovers to retaining a role in the business post-sale, Steven shares how ESOPs can support a smooth exit and a lasting legacy.

Matt and Steven also talk about:

(02:09) The core benefits of ESOPs and Section 1042

(03:30) Why a C-Corporation structure is essential for ESOPs

(05:16) How the ESOP trust and trustee work in the sale process

(07:51) Where does the ESOP get its money to buy shares

(11:25) The financial complexities and costs of setting up an ESOP

(14:55) Are smaller collision shops eligible for ESOPs too?

(21:19) Why ESOPs are a win-win for owners and employees

(22:35) How employee shares grow and get paid out in retirement

(24:53) Addressing ESOP misconceptions and early advice for shop owners

Connect With Steven Golden

Website: https://www.csgpartners.com/

Phone: 516-680-8276

Connect With Matt DiFrancesco:

[email protected]

(814)201-5855

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial

Instagram: @high_lift_financial

YouTube: @highliftfinancial

About the guest:

Steven Golden brings decades of experience in accounting, tax strategy, and employee ownership planning to his role on the investment banking team at CSG Partners. A longtime advisor on CSG-led transactions, Steven now works directly with middle-market companies to implement and optimize ESOP (Employee Stock Ownership Plan) strategies.

Before joining CSG in 2022, Steven spent over 25 years at CBIZ MHM, where he served as Managing Director and held various leadership positions. There, he built a national reputation working with high-net-worth individuals, closely held businesses, and public companies specializing in insolvency, estate planning, and ESOP design. He’s also served as a trusted expert witness and tax consultant for law firms nationwide.

Originally from Buffalo, New York, he has spent much of his professional life in Southern California and now resides in Las Vegas. He is a member of the American Institute of CPAs and remains a respected voice in the ESOP and accounting communities.

Disclaimer:

All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.