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What would become of your business if something happened to you, your business partner or a fellow shareholder? If an owner dies, becomes disabled, divorces, declares bankruptcy or simply retires, your business could be thrown into turmoil. Not only would family members and employees be affected, but the value of the business could fall. There … Continue reading “BUY-SELL AGREEMENTS PROTECT YOUR BUSINESS”

We all know that the Baby Boomers have begun turning 65, the traditional retirement age. Over the next 18 years, all the Baby Boomers will hit that milestone. While not everyone wants to retire at that magic age, it is a reminder that time is ticking by and that perhaps plans should be in the … Continue reading “Are Baby Boomers avoiding succession planning?”

Technical valuation issues will always be important, but what about those special situations involving intangible values that transcend the property’s tangible market value? Sometimes the value of a property isn’t just about measuring comparable sales or the net present value of rental cash flows. Sometimes the buyer also must consider intangible interests of the seller … Continue reading “Cathedral sale won by ‘Thinking of the other guy’”

Gregory T. Douds is a CPA, attorney and county judge in Georgia. In this article, he pulls from all areas of his background to provide ideas for alternatives to expensive expert witnesses. I have represented clients in hundreds of hearings and trials in the Georgia and Maryland courts, as well as in the U.S. Bankruptcy … Continue reading “Low budget alternatives to expensive expert witnesses”

Some employers who are seeking to snare top talent offer deferred signing bonuses – often in the form of loans – to key employees. The loans are scheduled to be forgiven later, after the employees prove their commitment to the new organization. A recent Tax Court case (Robert J. Brooks, et ux. v. Commissioner, TC … Continue reading “Tax Court: Interest on forgiven loan taxable”

Your law firm is not just a convenient place for you to practice your profession – it is a business that provides opportunity, financial wealth and satisfaction to you and your employees. As such, you need a business plan that envisions the firm’s future so you can properly operate your business to reach your goals. … Continue reading “Does your practice have a business plan?”

Do you have partners in your practice who will be retiring within the next five to ten years? If so, it’s time to start developing a transition plan for when the time comes. Understanding how the value of your practice is determined can help you plan for a smooth transition as well as implement strategies … Continue reading “Do you know how much your law firm is worth?”

Your CPA is a vital member of your legal team. But when should you call your CPA for assistance? The short answer is, “Whenever business issues or numbers are involved.” Here are five ways you can involve your CPA in litigation and practice management matters to help you realize greater profit and have a healthier … Continue reading “Five ways a CPA can help your law practice”

By Laura P. Ewart, CPA, valuations supervisor at CPAmerica In virtually all matrimonial litigation cases in which one spouse is a business owner, the expert retained in the case must analyze and report on two issues. The first issue is the value of the business owner’s interest in the company. The second is the amount … Continue reading “Cash flow analysis: A matrimonial case study”

Time-keeping and billing can be the bane of an attorney’s existence. But even worse is having to work an additional 10 or 20 hours because a client failed to pay his bill. Faster billing means faster and larger collection of professional fees. Unfortunately, it’s almost a universal truth that professional billings are often neglected by … Continue reading “Attorneys: Set aside time to do your billing”

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