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Aug 26 How to Value Your Business

Posted at 1:29pm in Get Value: Business Valuation Insights
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This overview can help you learn more about IRS Revenue Ruling 59-60, which is regarded as the foundation of modern business valuation. The ruling outlines and reviews the approach, methods and factors to be considered in valuing the shares of the capital stock of closely...

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Apr 17 Use the Increased Federal Estate and Gift Tax Exemption to Transfer Business Ownership Interests

Posted at 2:48pm in Get Value: Business Valuation Insights
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The Tax Cuts and Jobs Act of 2017 expanded the federal estate and gift tax exemption to $11.2 million per person, or $22.4 million for a married couple.  Under the Act, these higher limits are applicable through December 31, 2025.  On January 1, 2026 the...

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Mar 28 Why Business Succession Planning Is Important

Posted at 1:22pm in Get Value: Business Valuation Insights
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Your business represents a big part of your wealth. Here's why you need to protect it with a succession plan, so that you can ensure the business retains its value after you're gone. ...

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Feb 05 Should Rules of Thumb Be Used to Value a Business?

Posted at 10:36am in Get Value: Business Valuation Insights
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I frequently receive requests to quickly value a business by applying a “rule of thumb”, that is, application of a simple formula to the gross or net income of a business to determine its value. That's a bad idea - this post explains why....

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Jan 03 Now Is the Time for Business Succession Planning

Posted at 9:03am in Get Value: Business Valuation Insights
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According to several national surveys of closely held business owners, approximately three in five do not have any business succession plan in place. At KRS, we specialize in advising owners of family and closely held businesses and our observations are consistent with the survey results....

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Dec 03 Estate and Gift Tax Update: No Clawback After Increased Transfer Limit Expires

Posted at 8:24am in Uncategorized
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On November 25, 2018, the IRS issued proposed regulations, which indicate that gifts made before January 1, 2026, will not be clawed back to the estates of decedents dying after December 31, 2025.  The issuance of these proposed regulations strengthens a tremendous opportunity for the...

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Nov 01 Understanding Family Business Dynamics

Posted at 8:41am in Get Value: Business Valuation Insights
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Managing a family business presents unique challenges not faced by businesses owned and operated by unrelated individuals.  If not addressed, family issues can divide the family and damage or destroy the business. This post discusses some of the considerations important to ensuring the success of a...

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Aug 21 Is it Time to Update Your Buy-Sell Agreement?

Posted at 12:00pm in Get Balanced: Bookkeeping Made Easier, KRS Blog
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Buy-sell agreements are among the most important agreements entered into by business co-owners. Notwithstanding the importance, many businesses do not have buy-sell agreements in place, and for many that do, the agreements are ambiguous and outdated. This post shares crucial agreement provisions and discusses why...

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Sep 26 Set the Standard of Value in Shareholder and Partnership Agreements

Posted at 7:03pm in Get Value: Business Valuation Insights, KRS Blog
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Do the valuation provisions of your shareholder or partnership agreement specify a standard of value? If they do, is the standard of value “fair value”, “fair market value”, or something else? If the standard of value is not fair value or fair market...

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Sep 12 Is Your Business Ready for 2017?

Posted at 12:39pm in Get Value: Business Valuation Insights, KRS Blog
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As we approach the end of the third quarter, it is time to review your 2016 budgets and projections and compare them to the actual operating results. Is the business ahead of or trailing the projections? What parts of the business performed well...

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