The business valuation profession has grown rapidly since 1980. Over the decades, it has developed from a rudimentary process into a highly sophisticated mix of art and science to determine the value of a business or business interest. However, many business owners and investors fail to understand the valuation process and its results. Here are some…
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Can You Claim Your Parent as a Dependent?
If you pay over half the cost of supporting a parent, your parent is considered your dependent for federal income tax purposes. This treatment potentially entitles you to some significant tax breaks. Here are four potential benefits to consider when you file your 2023 federal income tax return. How Many Taxpayers Are Affected?According to the Pew…
Timing Counts when Valuing a Business
In today’s uncertain markets, the value of a business may change significantly over time. So it’s important to choose the valuation date carefully. Often, the date is prescribed by law or a judge. But sometimes attorneys or others, such as the executor in an estate valuation, are allowed to decide between different dates. A Fundamental Decision…