Nov 22 Understanding IRS Rules for Self-Rentals
If you rent property to one of your business entities, that "self-rental" arrangement may have negative tax consequences. Here's what you need to know about the tax effects of self-rentals....
Jul 18 A Few Considerations Before Acquiring a Small Business
We are frequently approached by people in the process of purchasing a business and request our advice with transaction structure and tax planning. Although the buyer has not conducted any due diligence or consulted a professional regarding the value of the business, negotiations have...
Jul 08 Choosing The Right Accounting Software
When it comes to choosing the right accounting software for your business one size definitely does not fit all. With an onslaught of “boxed” bookkeeping packages to choose from it is critical to fully understand their offerings and limitations before committing to one over another....
Nov 22 Investor vs. Dealer
Real Estate Owners must answer the question: Am I a Dealer or an Investor? The answer may have a significant impact on the amount of tax incurred. This post explains what you need to know to save on taxes by understanding how each are treated...
Jul 05 Structuring a Business Sale to Minimize Income Taxes
In a business sale, transaction structure can have a huge impact on the amount of taxes paid. With the proper structure, income taxes may be reduced by as much as 50%. This post discusses issues to consider when structuring a business sale....
Jun 24 How to Choose the Right Accountants
A good accountant /client relationship will last many years. So when you are searching for your first accountant or if your current accountant just doesn’t fit the bill any longer, think about filling the role with a firm or individual that can meet your current...
Jun 21 Valuation Considerations in Selling a Business
This post reviews the four steps a business owner looking to sell can take to increase cash flow and reduce the buyer's perception of risk. It also highlights the four most common risk factors to cash flow....
Jun 10 Who’s Really in Control of Your Internal Controls?
Internal controls are the checks and balances that are in place to at least provide a fighting chance that errors, omissions, duplications and misappropriations will be detected and avoided. Read more to learn about how all businesses can put such controls into place immediately without...
Jun 10 Considerations in Buying a Business
I have helped many clients purchase businesses, and probably advised just as many to walk away from deals. What makes a deal good and what are the important factors in evaluating the purchase of a business? If you are considering purchasing a business,...
May 24 Buy-Sell Agreements
Does your business have an up to date buy-sell agreement? Buy-sell agreements are the most important, but perhaps most overlooked agreement that a business can have. These legal documents protect business owners when one owner leaves the company for any reason. This post covers...