When selling a business, there are some buyers who would be willing to pay a premium above the fair market value of the business on a controlling basis. These strategic (or synergistic) buyers might include competitors looking to build market share, joint venture partners who already understand the business model or players that are vertically…
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Midyear Tax Planning for Small Businesses and Owners
Summer isn’t just for barbeques and baseball. It’s also a good time to think about ways to cut your 2023 business tax bill. Here are four planning ideas for small business owners to consider, assuming there won’t be any changes to current federal tax laws at least through 2024. Which Purchases Are Eligible for Sec. 179…
Valuing Professional Practices
There are many types of professional practices. Examples include medical, architecture, engineering, accounting, advertising, design and law. From a business valuation perspective, it’s important to recognize the common denominators these businesses share. Reliance on Intangible Assets Professional practices provide services rather than sell products (at least primarily). In addition, education, licensing and continuing education requirements may limit the…