What is the value of my business? That’s the question every business owner wonders from time to time. But the correct answer varies depending on the purpose of the appraisal. Different rules and “standards of value” may apply depending on how the report will be used. Fair Market ValueIn the United States, the most widely recognized and…
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A Closer Look at the Excess Earnings Method
The excess earnings method was originally created to compensate wineries and distilleries during Prohibition. Business valuation experts often criticize this method, calling it ambiguous, over-simplified or outdated. But it’s still used in some jurisdictions as a way to value small businesses and professional practices, especially in a divorce setting. IRS Definition The excess earnings method is the subject…
Top 10 Tax Breaks for Military Service Members
Active-duty service members, veterans and their families deserve our gratitude for their sacrifices for our country. One small “thank you” from the government comes in the form of tax breaks to service members serving here and abroad. Here are 10 breaks for military families to consider. New Law Approves Military Spouse CreditThe SECURE 2.0 Act carves…