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...
Increase the Odds of Getting a Loan
It can be very intimidating for Maine-based small business owners to seek out a bank when they need a business loan. Bankers obviously want to minimize their risks, and usually small business owners need the loan because they are trying to do something which could be...
Court Chastens Expert Over ‘Severely’ Deficient Valuation
Sometimes courts face a hard choice, having to decide between equally compelling and competent valuations. Not so in a recent fair value proceeding in which the skills gap between the testifying experts made it easy for the court to pick the winner. Biz divorce: The...
Evaluating a Business Valuation Report
For small business owners, it may seem like all you need is a little business and financial knowledge to perform a quick calculation to determine a business’ value. However, experienced valuation professionals apply tested valuation approaches that are based on real...
Rules on Deducting Business Start-Up Expenses
After a recent U.S. Tax Court decision, current deductions aren't allowed for most expenses incurred during the start-up phase of a new business. When compared with the federal treatment of start-up expenses, it can be confusing for small business owners. Here's what...
Tax Court: Retired Cop’s Cash for Unused Leave Wasn’t Excludible
The U.S. Tax Court has held that payments received by a police detective on his retirement, for unused sick and vacation time, were includible in income. Based on that conclusion, the court rejected the taxpayer's argument that a portion of the vacation time and sick...
Testing the Waters Before Jumping in
It seems obvious that the best time to find out about possible culture differences between two companies considering a merger is before the deal is complete. One of the most common reasons for mergers or acquisitions to fail is concern about cultural integration. It...
SEPs: A Quick and Easy Retirement Plan Option
A simplified employee pension (SEP) is a good way to start securing a small business owner’s retirement, and the business can gain tax advantages right away. An added advantage is that setting it up and maintaining it is not very difficult. SEP Basics The SEP is...
Protect Receivables from the Outset
Maine-based small business owners are all used to hearing different excuses when trying to collect money owed to their companies. For these delinquent customers, the real objective is often to delay, either until some time further down the road when they will have...
New Twist to Debate on Discounts in Fair Value Proceedings
Much of the valuation community’s attention in the past few months has focused on New York fair value proceedings. Now the Utah Supreme Court adds more fodder to the discussion with a decision that rejects the lower court’s reliance on precedent that prohibits...