Winds of Misfortune Blow Your Way?
A natural disaster is always bad news for a Maine-based small business, but sometimes a tax break can be salvaged. A hurricane, earthquake, tornado, fire, flood, or storm usually means that business owners can claim a casualty loss deduction on their tax returns....
Litigation Support: One Right Approach to Wrongful Termination Suits
Employment at will issues are often hashed out in the courtroom, defending against them, especially those involving wrongful termination lawsuits, require significant industry expertise. This, combined with exhaustive research and complete analysis, are key elements...
Ruling Reveals Delaware Chancery’s Skepticism of Valuation Experts
The valuation opinions of nonexperts can be a useful reality check on the opinions of bona fide valuation experts, says the Delaware Court of Chancery in a case that involves an increasingly popular technique known as “appraisal arbitrage.” The court’s finding applies...
Protect Your Company Against Fraud
Fraud within a small business used to be rare. But now, many different types of organizations are falling victim to internal fraud. The good news is that while no anti-fraud system is infallible,there are things that small business owners can do to reduce the risk of...
Write Off Business-Related Vehicle Expenses
As a Maine-based small business owner, you may be wondering how much can be deducted on your tax return for vehicle expenses. There are two basic ways to figure this out: The first is the standard mileage method. This provides a basic deduction for mileage and...
Bad Behavior in a Forced Buyout Triggers Marketability Discount
Wisniewski v. Walsh, 2013 N.J. Super. Unpub. LEXIS 724 (April 2, 2013) Children learn that bad behavior has consequences. An appellate court recently taught a similar lesson to a troublemaking shareholder whose doings forced a buyout. Three siblings each owned a...
Considering an Expansion into Canada?
As a Maine-based small business owner, it may seem like a natural progression to expand north. Canada is a globally competitive country and an extremely cost-effective market. This makes it a good choice for businesses, especially those in the northern United States,...
Take Another Look at Paid Sick Leave
In recent months, several states and localities have passed laws to mandate paid sick leave. One way the local laws differ is in the grounds required for taking sick leave. Most cover sick leave when the employees or their family members are sick, and some also cover...
Maximize Business Expense Write-Offs
When you take out personal loans to buy a Maine-based small business, you want to maximize the tax write-offs for the resulting interest expense. The tax law in this area can seem complicated. But if you do some research ahead of time and talk with Filler &...
Analyze Customer Reports For Maximum Profit Potential
As a Maine-based small business owner, it’s important to be aware of two things. One is the break even point for every customer or client. The second is the status of all business prospects. If these two things are unknown, it might be time to consider the following...