Accounting & Business Consulting Blog

Tips for Reducing the Impact of NIIT

Dec 4, 2023 | Blog, Tax

The net investment income tax (NIIT) was enacted more than a decade ago. While repeal has been discussed more than once, it continues to ensnare a growing number of taxpayers. If you are at risk for this additional tax, there may be some options to reduce your odds of...

7 Tax Breaks for Parents

Nov 20, 2023 | Blog, Tax

It is challenging and expensive to be a parent. The average annual cost of raising a child in the United States is $21,681, after factoring in tax exemptions and credits, according to a 2023 study published by Lending Tree. That is an increase of roughly 19% from 2016...

Spelling Out the Rules for the Net Unrealized Appreciation Tax Break

Nov 13, 2023 | Blog, Tax

Are you a small business owner or corporate owner holding appreciated company stock in your 401(k) or other qualified employer-sponsored retirement plan? At some point, you may decide to cash in your stock. If so, you can benefit from an unprecedented federal income...

Planning a Graceful (and Profitable) Exit from Your Small Business

Nov 6, 2023 | Blog, Exit Planning

At some point, every business owner leaves the company, either voluntarily through retirement or otherwise. Some businesses will outlive their founders. Others can not survive without the continued involvement of a key owner-employee. And a few business concepts —...

What Buyers and Sellers Should Know About Earnouts

Nov 3, 2023 | Blog, The Valuation Report

It is not uncommon for private company M&A deals to include an earnout. This is a risk-allocation mechanism whereby a portion of the purchase price is deferred and is based on the performance of the acquired business over a specified period. The purchase agreement...

Tax Court Ruling Clarifies Profits Interest