If you’re asked to serve as the executor of an estate, think carefully about the decision before accepting the position. Acting as an executor or administrator of an estate can involve a great deal of work, depending on assets and the complexity of the estate. Q. Who Can Be an Executor? A. It depends on…

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…