Succession Planning

Jun 22, 2023, 15:49 PM by Meredith Thornton, CPA, MST, Michael Tighe, CPA, MST, and Howard Braithwaite, CPA, MST

When acquiring an S corporation, there are unique issues to be dealt with surrounding the target’s current status as an S corporation. Meredith Thornton, CPA, MST, Michael Tighe, CPA, MST, and Howard Braithwaite look at how the F reorg. helps put this difficulty aside.

Dec 15, 2022, 07:00 AM by Michael A. Zaydon, CPA

The next generation of aspiring small-business owners is playing a major role in facilitating the generational wealth and business transition wave currently underway and they may be the perfect fit for business owners and their advisers who care not only about the financial prospects of a business exit, but the emotional ones as well.

Sep 28, 2022, 09:14 AM by Ira S. Rosenbloom, CPA (inactive)

Explains that if firm owners are ready to merge with, or be acquired by, another firm, it’s important that they plan out well in advance of the coming tax season.

Dec 1, 2021, 13:01 PM by John S. Stoner, CPA, CVA

Entrepreneurs work hard to make their businesses succeed, and they often have a large percentage of their personal wealth embedded in those businesses. When they begin to contemplate retirement, it is important to maximize the net proceeds from the sale of their business to provide sufficient resources to support their retirement.

Dec 2, 2020, 11:16 AM by William G. Ruffner, CPA, and Michael J. Tighe, CPA

One disadvantage of forming a Subchapter C corporation is the unfortunate reality of “double taxation.” The first level of taxation occurs when the business pays corporate income taxes on its profits. The second level occurs when the previously taxed profits are distributed to shareholders as dividends. Even if the corporation does not have sufficient cash flow and decides to distribute property that has appreciated in value to its shareholders, the tax is typically unavoidable.