By what “standard of value” should a business be appraised? That may sound like a peculiar question at first blush, but it is one that has a significant meaning when one is determining the value of a private business interest. According to the International Glossary of Business Valuation Terms, “standard of value” refers to the identification of…

You can’t touch goodwill, but it’s one of the most valuable assets for many businesses. Commonly associated with professional service firms, goodwill can also exist among manufacturers, retailers, contractors and other types of businesses. Valuing intangible assets, including goodwill, requires the use of a business valuation professional to get it done right. Getting a Handle…

Individuals who are eligible for federal income tax credits can significantly lower their tax obligations. It’s important to differentiate between tax credits and tax deductions. A credit usually provides greater tax savings than a deduction, because a credit reduces your tax bill dollar for dollar. A deduction reduces only the amount of income that’s subject to tax. Here are…