Jun 22, 2021 | Blog, Closely Held Businesses, Exit Planning, Tax
Economic fallout from the COVID-19 pandemic has caused some small businesses to permanently close. No owner plans to close when entering into business, so the tax implications may not be front of mind when it comes time to shut operations down. The following provides...
Jun 21, 2021 | Blog, Closely Held Businesses, Exit Planning, Tax
Closing a business has important federal income tax implications that owners should understand. The following provides tax information owners of sole proprietorships and single-member (one-owner) limited liability companies (SMLLCs) need to know. Reporting Gains,...
Jun 10, 2021 | Agriculture, Beer, Blog, Cider, Closely Held Businesses, Manufacturing, Real Estate and Construction, Startup Business, Wine
In normal market conditions, people who have been unemployed due to an economic slump generally desire to find a job when the economy perks up. But times are far from normal in many places and industries. One of the most pressing concerns employers face today...
Apr 30, 2021 | Blog, Closely Held Businesses, Exit Planning, The Valuation Report
While preparing your succession or estate plan, you should value your family business both internally and externally because your company has multiple values depending on the valuation standard used. The different results can help you determine whether to keep the...
Jul 13, 2020 | Blog, Closely Held Businesses, Now You Know, Startup Business, Tax
Many family businesses have been adversely affected by the novel coronavirus (COVID-19) pandemic. But there’s a silver lining: proactive tax planning can help your family business take advantage of potential opportunities in the COVID-19 era. Here are some...
Jul 6, 2020 | Advisory, Blog, Closely Held Businesses, Now You Know
The novel coronavirus (COVID-19) pandemic has caused difficulties for millions of businesses — from family-owned restaurants and niche manufacturers to multinational airlines and oil companies. As the economy slowly reopens across the country, old ways of doing things...