Too often CEOs of a company will procrastinate the succession of their company to the next generation. This may happen since the idea of retiring from a business can be too difficult to embrace. Another reason is if the CEO decides to hand off the reigns to the family, there will be a dispute …
This article discusses how the coronavirus pandemic has impacted the way people are purchasing businesses and how business owners are selling. In fact, there’s been a rise in investment activity, and it is expected to continue for the remainder of this year. In order to capitalize on these investments, taking advantage of tips such …
This article discusses the sad reality of how fewer than 1/3 of family businesses are successively handed down to the second generation. However, utilizing the tips outlined in this article such as starting your succession planning early, including family members in discussions, training, and sticking to the facts can all set your family business …
This article discusses how there are many factors at play when a business gets bought or sold. Specifically, topics such as reoccurring revenue, why someone sells, buyers’ interests, evaluation criteria, and the 4 P’s (People, Platform, Processes, and Product) are all outlined within this link. No matter where you are at in the mergers …
Lisa Freeman joined the De Boer Bauman team as an intern in January 2016 and moved to full-time at the end of that tax season. Before coming to us, Lisa went back to school as an adult and graduated from Davenport University with an Associate Degree in Accounting.
Today, she works on the quarterly and …
Here are five things that happened this past month that affect your small business.1) There’s a tight labor market nationwide these days, and it’s giving workers more leverage.The economy’s recovery is giving low-wage workers more leverage, as “ballooning job openings in fields requiring minimal education” combine with a shrinking labor force. For some, this …
Owning your own small business is a dream that few are fortunate enough to realize, but even those new to the joys of entrepreneurial self-determination need to spend time thinking about how you’re going to eventually leave the business. No matter how far off it may seem, the best way to ensure that your …
Congress has provided businesses with a temporary tax break as a means of helping the restaurant industry, which has been devastated by the COVID pandemic.Although the Tax Cuts and Jobs Act eliminated the business deduction for entertainment, it continued to allow a deduction for 50% of the cost of qualified business meals.As part of …
President Biden presented his proposed American Families Plan (AFP) during his Joint Session of Congress address on April 29, 2021. What follows is an overview of what is included in the plan. But this is only his wish list; Congress will need to draft proposed legislation that will have to pass in both the …
This article discusses how the IRS released guidance explaining deductions on food and beverage within a restaurant. There was a temporary 100% deduction which was “designed to help restaurants, many of which have been hard-hit by the COVID-19 pandemic.” However, as we continue to move forward, there were questions regarding when the 100% deduction …
