World Class Mergers & Acquisitions | For Companies $5 Million to $250 Million in Revenue
This is the third in a series of articles that will attempt to dispel ten common misconceptions, or fables, about ESOPs. ESOP Fable #4: My employees cannot afford to buy my company. Another common misconception can be paraphrased as, “How…
Unsubstantiated Expenses The Tax Court has ruled that deductions claimed, but unsubstantiated were not allowed. The couple owned a trucking business and claimed to keep sufficient records; however the records were lost in a fire. The IRS was sympathetic and…
Q: I am interested in having my business valued for a number of reasons. Is a valuation done for estate planning purposes effective for other purposes such as financing as well? A: Generally, you would want to have your valuation…
Knowing the value of a business is important to anyone who has an ownership interest in a company. Valuing a business is often overlooked until the last minute. At this point, the business owner realizes how vital a valuation is…
Third Party Payroll Provider The IRS has posted guidance regarding third party payroll providers. The guidance warns that companies must do their due diligence, must follow through with what their providers are doing with their money, and realize that the…
There are many misconceptions about ESOPs today, sometimes in the business press, and sometimes by professionals from various fields. With all this misinformation and misconceptions about ESOPs, it can be difficult – if not impossible – for the average business…
Q: I am exchanging property in a 1031 “like-kind-exchange.” Can I exchange my one property for more than one property. A: Yes. As long as the property being exchanged is within the same class, you may exchange the property for…
Introduction From rising fuel prices, rising commodity prices, clients filing bankruptcy on their payables to clients not paying due to adverse credit climates, business is a challenging endeavor for any line of work. The fact of the matter is that…
Being a Real Estate Professional The Tax Court rejected a taxpayer’s claim that he was a real estate professional. The taxpayer owned 7 properties. He additionally owned two other businesses. One was a mortgage application processor, the other business sold…
There are many misconceptions about ESOPs today, sometimes in the business press, and sometimes by professionals from various fields. With all this misinformation and misconceptions about ESOPs, it can be difficult – if not impossible – for the average business…