Importance of Company Financial Statements

Importance of Company Financial Statements

Over the years, I have seen many business clients pay an excessive amount of attention to the income or profit and loss statement to the detriment of the other financial statements available, such as the balance sheet, the statement of cash flow and statement of owner...

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Letter of Intent: to Bind or Not to Bind

Letter of Intent: to Bind or Not to Bind

What’s the point of a letter of intent if it doesn’t serve as the final binding agreement? Isn’t it just extra work and more legal fees that could have been avoided by just getting to work on the agreement itself? As it turns out, letters of intent serve a valuable...

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Avoiding a Costly Business Divorce

Avoiding a Costly Business Divorce

Starting a business with co-owners is a little bit like getting married. At the front end of the venture, all the owners get along and everyone is happy-just like in a marriage. After a while, some bumps in the road occur, and as things start unraveling, the...

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SECTION 199A—IS THIS A DREAM COME TRUE?

SECTION 199A—IS THIS A DREAM COME TRUE?

At the end of 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law with much fanfare and with an effective date of January 1, 2018. Two income tax provisions in TCJA made big headlines. The tax rate for C corporations was cut to a flat 21% rate. And a new tax...

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Equity Purchase or Asset Purchase?

Equity Purchase or Asset Purchase?

The purchase or sale of a business is a major decision for both buyers and sellers. Such a transaction can be accomplished through the purchase of the company stock (if a corporation) or the membership interests (if a limited liability company). Alternatively, the...

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