Category: Finance

Congratulations! You sold your business after working with a business valuation expert for years.  You were able to maximize the offer because you knew the value of your business.  The closing date is days away.  It will be the biggest pay day of your life.  Do you let this last pay day money just sit […]

At some point, every business owner leaves the company, either voluntarily through retirement or otherwise. Some businesses will outlive their founders. Others can’t survive without the continued involvement of a key owner-employee. And a few business concepts — from horse-drawn buggies to video rental stores — eventually lose relevance. Here’s an overview of the options […]

In a complex and volatile economic climate such as this, it’s important to use every tool at your disposal to ensure your business stays on top of its game — especially when seeking financing to support ongoing operations or future expansion. From this perspective, a professional business valuation can be invaluable — both in obtaining […]

It takes years to build up a successful medical practice that is respected and valued by the community. It can also take time to find a qualified buyer at a satisfactory price. However, you can take several steps now to help provide a smooth transition when you finally put out a “for sale” sign. Here […]

How popular is the use of payment apps to carry out person-to-person transactions? According to the Consumer Financial Protection Bureau, the number of such transactions using payment apps operated by third-party settlement organizations (TPSOs) quadrupled between 2018 and 2022. And, the value of those transactions is estimated to have hit about $893 billion. Using a payment […]

The Complex Rules Surrounding Mortgages and Taxes The home mortgage interest deduction is as American as apple pie, but since 2017 when the tax law for this deduction was passed, there have been some changes. For starters, and most notably, the maximum mortgage principal that made homeowners eligible for the interest deduction has been lowered. […]

When a third party, such as a banker, investor, creditor or buyer, asks for audited financial statements, it is not cause for alarm. What these third parties often want is assurance that the financial statements provided by your business are reasonably accurate and free of any major oversights or material errors. A review and an […]

Passive investing is basically making an investing decision and sticking with it long term, without a lot of trading. It’s often associated with indexed investing: putting money into an indexed fund and letting it grow over time. As Investopedia says, “Passive investing methods seek to avoid the fees and limited performance that may occur with […]

Under IRS and Department of Labor rules, employers whose 401(k) plans have over 120 eligible participants on the first day of the plan year must hire an Independent Qualified Public Accountant (IQPA) to audit the plan for that year. (This is part of the so-called 80-120 rule, which governs plans with between 80 and 120 […]

Applying for a mortgage? Your debt-to-income ratio is a key number. Lenders care about how much money you spend each month on your credit cards, student loans and auto loans. The less of a financial burden your monthly debts are, the more likely you are to not miss any mortgage payments. What exactly is your […]