Owning assets jointly with a child may not be the right estate planning strategy
There’s a common misconception that owning assets jointly with a child or other heir is an effective estate planning shortcut. While this strategy has a certain appeal, it can invite a variety of unwelcome consequences that may quickly outweigh any potential benefits.
How business valuation pros use transaction databases
Transaction databases contain the details of thousands of real-life public and private stock sales. They’re used by business valuators when they apply the guideline transaction method. This method — also known as the merger and acquisition method — is a subset of the market approach.
Nonprofits: Want to boost income? Consider a for-profit subsidiary
Although your nonprofit’s tax-exempt status prohibits certain money-making activities, you may be able to create a for-profit subsidiary that isn’t hampered by such restrictions. In addition to producing income, a subsidiary can help you reduce taxable unrelated business income and limit legal liability.
Facing a future emergency? Two new tax provisions may soon provide relief
Perhaps you’ve been in this situation before: You have a financial emergency and need to get your hands on some cash.
Valuations can help business owners plan for the future
If someone was to suggest that you should have your business appraised, you might wonder whether the person was subtly suggesting that you retire and sell the company.
Don’t let IRS compliance issues drag down your nonprofit
In recent years, the IRS has increased its scrutiny of tax-exempt organizations. Most not-for-profits that fail to file Form 990 for three consecutive years will have their exempt status revoked automatically.
Are scholarships tax-free or taxable?
With the rising cost of college, many families are in search of scholarships to help pay the bills. If your child is awarded a scholarship, you may wonder about how it could affect your family’s taxes.
Assessing lost business value as a source of economic damages
The survival of many companies depends on relationships between key customers or vendors (or both). When one of these relationships is disrupted, for whatever the reason, one party may incur financial damage — perhaps even leading to its demise.
SEK wins two categories in Tri-State’s Best Awards
SEK, CPAs & Advisors won two categories in Herald Mail Media’s Tri-State’s Best Awards for 2023: SEK was voted Best Accounting Firm and William F.
Key financial metrics that matter for construction companies
Running a successful construction company requires more than just skilled labor and quality materials. It demands effective financial management to ensure profitability, mitigate risks, and sustain growth.