Favorable economic conditions alongside baby boomers looking to exit their businesses over the next ten years have resulted in an active M&A market. While there are many exit options, business owners should consider a recapitalization using a private equity firm.
Baby Boomers are retiring in record numbers and many baby boomer business owners will be looking to exit their businesses over the next ten years
Bennett Thrasher LLP, one of the top 100, full-service public accounting and consulting firms in the country, announced today the formation of a new practice group: Value Acceleration and Exit Planning Services, providing comprehensive exit planning consulting that includes valuation, corporate tax, personal tax, wealth advisory, transaction advisory, audit and assurance consulting, and operational support for business owners planning to transition out of their businesses.
On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law. It is the most comprehensive tax reform seen in the United States since President Ronald Reagan’s 1986 Tax Reform Act.
In an effort to simplify accounting, the Financial Accounting Standards Board (FASB) has eliminated Step 2 from the goodwill impairment test, according to a statement issued on January 26, 2017.
In the recent case of Estate of Adell v. Commissioner, the Tax Court addressed the proper valuation method of an operating company and the issue of personal goodwill.
The bar for appraisal reports in the estate and gift tax area that will withstand IRS scrutiny continues to rise according to a webinar presented by Michael Gregory, a former IRS executive with over 28 years of experience in this area.