After eight rewarding years of serving clients through my own companies, Legacy Advisors Group, LLC, and Legacy M&A Advisors, LLC, I have accepted an excellent opportunity to become a Managing Director with the new Transworld M&A Advisors organization, a division…
Q: What is the difference in selling my business to a competitor as opposed to a family member? A: One main difference is that the IRS will be more interested in that transaction and somewhat suspect of it. When selling…
Equipment or Inventory? The IRS Chief Counsel has determined that a corporate taxpayer may not depreciate equipment primarily held for sale or use that equipment in a tax deferred like-kind exchange. The taxpayer claimed he rents, sells, services, and finances…
How are you going to end the relationship with your business? Believe it or not, that day will come. Fortunately, you have a number of options to plan your exit and watch your legacy continue. Four good, viable options exist…
By: Mike Ertel Managing Director Transworld M&A Advisors The Florida Legislature has passed, and Governor Scott has signed, the Florida M&A Broker statute [FS 517.12(22)], which becomes effective July 1, 2016. Under this new statute, Florida business brokers and M&A…
Q: I would like to file an amended return. Can I go back 8 years? A: Generally a claim for a refund must be made within 3 years of its due date. However, we have amended returns 6 years ago,…
In their book, The $10 Trillion Opportunity, Richard Jackim and Peter Christman note that: “…Within the next 20 years, more than 90 million people in the US and Canada will be retiring. These are the “baby boomers,” the generation born…
In October of 1962 the United States was almost dragged into a nuclear war with Russia because of Cuba. In response to the failed Bay of Pigs Invasion and the presence of American ballistic missiles within range of Moscow, Cuba…
Employee v. Contractor In this Tax Court Case, there was the taxpayer and the IRS. The taxpayer was working for the federal Department of State under a personal service contract or PSC. The PSC clearly dictated essentially every detail of…
Working another client recently I was struck once again by the importance of analyzing and recasting – and possibly even restructuring – your company’s financial statements as the first step in getting your business ready for sale. Like almost all…
