Posts Tagged ‘small business’
8 Surprising Drivers of Business Value
In the United States, business valuation is an 8 billion dollar industry. Yes, you read that correctly. Whether a company is looking to sell or not, the ability to understand its value is imperative in a variety of capacities from acquisitions to internal restructuring, from retirement and succession planning to external investment, from share swapping…
Read MoreLitigation and the Role of a Forensic Accountant
Attorneys across the globe turn to forensic accountants and their expertise to assist in their efforts as they navigate their clients’ legal disputes and potential litigation. Often called upon either before litigation or during litigation, forensic accountants are tasked with the role of lending their specialized understanding and knowledge of financial issues as they relate…
Read MoreShould My Small Business Be Valued?
Business valuations have garnered the reputation of being primarily for large corporations looking to sell, mergers and acquisitions, or for start-ups seeking funding. The process of ascertaining the economic value of an organization is complex and often complicated, which can deter small business owners from taking it into consideration at all. Additionally, a large portion…
Read More7 Actions That Could Get You Audited By the IRS
Contrary to popular belief, the Internal Revenue Service (IRS) seldom audits taxpayers. In fact, only about 1 percent of all tax returns processed are subject to an IRS audit. However, it is interesting to note that historically wealthier individuals and the most successful of businesses are more likely to get audited, compared to low to…
Read MoreTax Preparation for a Smooth Tax Filing Season
Mark Twain once said, “I shall never use profanity except in discussing house rent and taxes.” Expletives aside, paying taxes is stressful to everybody, no matter what specific financial situation one might find themselves in. Almost always met with frustration, stress, and scrambling, tax filing season is something that everyone dreads. The majority of the…
Read MoreBusiness Resolutions for a Profitable 2018
Statistics say that 80 percent of New Year’s resolutions fail by mid-February. Sure, personal goals can often be the most challenging of any objectives. But what about in the business world? Does the act of creating New Year’s objectives apply to companies? If you’re like the majority of business owners, you have likely begun strategizing…
Read MoreThe Basics of Small Business Entity Selection
When beginning a small business, it is very important to think about the different options you have when it comes to choosing the structure of your business. Each of the business entities will provide different legal and tax implications, and it is up to you to choose the structure that will best suit your business.…
Read MoreHiring a Business Valuation Expert
Conducting a thorough valuation of a business or other enterprise is critical to successful results. All too often, business valuation “experts” use a simple rule-of-thumb formula to do so, but this can lead to critical errors and misinformation. As such, the process of conducting a valuation of a closely-held business requires a comprehensive look at…
Read MoreFactors in Choosing an Accounting Firm for Your Business
Choosing the right accounting firm can make or break an organization. For small businesses, using accounting software like QuickBooks or Quicken may seem like the logical solution. However, as public and private companies expand, the need for the right accountant or accounting firm becomes indispensable. While every company’s needs are different, far too many organizations…
Read MoreDo You Want to Sell Your Small Business?
Why do people wish to sell their business? Some reasons include retirement, boredom, partnership dispute, illness, or death. Whatever the reason may be behind desiring to sell a business, the parties involved should follow certain steps in order to properly sell their business. If followed correctly, the business sale will be a smoother process. Performing…
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