Years ago, when we were marketing a business for sale, we used to include a short note about why the business wasn’t transitioning to the owner’s kids. After all, if it’s such a great opportunity, why don’t the kids want it, right?
Any business owner contemplating an exit in the next few years should consider how potential tax changes could reduce their net proceeds from a sale. If Biden’s tax plans come to fruition, the capital gains tax rate could effectively double, from 20% to 39.6% for income exceeding $1 million
Learn more about what to look for in the financial documents when valuing a small business in order to determine its earning potential for you in the future!
As part of the Economic Aid Act that passed in December, the Small Business Administration will make borrowers’ payments for six months on new SBA 7(a) and 504 real estate and micro-loan programs.
Do you have an EXIT STRATEGY?
Among the most common mistakes business owners make, whether they been in business for years or are a new entrepreneur, is failing to have an exit strategy. Scott Bushkie was recently a featured guest on ExitReadiness Podcast to share his insights on this common mistake as well as other items that may kill a deal or prove costly. Listen and learn what you should be doing to prepare.
If you’re considering selling your small business, review these documents and information. Preparing solid financials will help determine a fair asking price.
One year ago, buyers were looking for talent. Every company we talked to was up against the same problem – there was so much opportunity to be had, but none of the employees to make it happen. It’s amazing how much can change in year.
If you’re considering selling your small business, review these documents and information. Preparing solid financials will help determine a fair asking price.
President-elect Joe Biden has made it clear that corporate tax rates, and taxes on high net worth individuals, will increase under his administration. Just how many of those plans will come to fruition, and how quickly, is unknown.
On December 27, 2020, the Consolidated Appropriations Act, 2021 (HR 133) was signed into law by President Trump. This $2.3 trillion spending bill combines a $1.4 trillion Omnibus appropriations bill for the 2021 fiscal year and $900 billion for COVID-19 relief in the United States