A business owner who is thinking about selling his business sometime in the next few years recently asked me: “How soon should I begin working with a business broker?” My response was: “Probably a lot sooner than you think!” The…
A business owner who is thinking about selling his business sometime in the next few years recently asked me: “How soon should I begin working with a business broker?” My response was: “Probably a lot sooner than you think!” The…
Interesting Appraisal A Court of Appeals reversed and remanded a Tax Court ruling that was favorable to the IRS. In the case, the taxpayer donated a façade conservation easement to The National Architectural Trust. In order to get the deduction,…
Q: As an employer, am I required to pay my employees sick time, vacation, and otherwise supply them with paid time off? A: Under the Fair Labor Standards Act, there is no employer requirement to give employees paid time off. …
Introduction Does your company have a policy handbook outlining the expectations of the company and employee conduct? Whether your company is large or small, policy handbooks are a necessary instrument to your business. Policy handbooks save management time in resolving…
Most buyers are eager to “make their mark” once they’ve acquired a business. But unless the business is losing money, or employees and customers alike despised the previous owner, it is generally a mistake for a new owner to make…
Failure to File Gift Tax Return The US Court of Federal Claims ruled that a donor’s health problems were not severe enough to warrant reasonable cause for failure to file a gift tax return. In this case the donor failed…
Q: Is it possible to have Roth and traditional IRAs as part of a comprehensive plan? A: Yes. Individuals can have an assortment of Roth IRAs, traditional, and even employer retirement plans as their overall retirement plans. However, when funding the IRAs,…
Introduction Non-Compete Clauses and Agreements (also known as Covenants Not to Compete), quite simply are agreements that are used to limit an employee’s competition against an employer when the employee is no longer working for the employer. They are necessary…
Thousands of small- to medium-sized businesses sell privately every year, so why use a professional M&A Advisor? Why not save the professional fees and do it yourself? There are several reasons, but in my experience most of my clients say…
Family Limited Partnership The Tax Court ruled that interests given in an FLP were completed gifts as they satisfied the present interest tests. As trustees of their respective trusts, a decedent and his wife established a family limited partnership for…
