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…

Are you feeling generous? Qualified charitable contributions can be rewarded with sizeable tax breaks during the second calendar year of the COVID-19 pandemic. Recent legislation includes the following four temporary tax law changes that are designed to help individuals and businesses that donate to charities through the end of 2021. What Is a Cash Contribution?Most cash…

You may still have time to significantly reduce this year’s business federal income tax bill even with all the uncertainty about proposed tax law changes. Here are five possible moves to consider — but stay tuned for developments. Congress is currently considering some tax changes.    1. Claim 100% First-Year Bonus Depreciation for Last-Minute Asset Additions…