To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your field of business. A necessary expense is one that’s helpful and appropriate for your business. Beyond Personal Expenses Constructive dividends can come in many shapes and sizes. The most common example…

Similar to balance sheets, business valuations are prepared as of a specific date. Sometimes a valuation’s effective date is in the past, and events have occurred after the valuation date that would have impacted the company’s value if investors knew (or could have known) about them beforehand. Such retrospective valuations are common in litigation and…

Often, a great deal of thought and work goes into estate planning documents. You need to consider all your assets, who to distribute them to, and the best way to accomplish your goals. However, your work isn’t over once you’ve signed those documents. You need to make sure your assets are properly positioned to go…