Shareholder disputes are common occurrences in today’s complex business world. These disputes can often be divisive, long-lasting and expensive. They can arise in almost any privately owned business — sometimes without warning. Here are come common types of lawsuits minority shareholders may file against controlling shareholders: Dissenters Rights Actions State law may give corporate shareholders the right…
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When Should You Take Social Security Benefits?
If you’re nearing retirement, you’ve likely paid into the Social Security system your entire career. It’s only fitting that you finally cash in on the Social Security benefits that are rightfully yours. But when should you start receiving benefits — at the first available date, at the latest date or somewhere between those dates? The answer…
Gauging the Reasonableness of Owners’ Compensation Deductions
For most privately held businesses, owners’ compensation is one of the largest expenses on the income statement, especially when all the related perks and hidden costs are calculated. Compensation should accurately reflect what others would receive for similar duties in a similar setting. Reasonable compensation levels are important not only for state and federal tax purposes,…