CPA objectivity crucial in valuation

As cliché as it may sound, one of the pillars of the accounting profession is integrity. The role of the accountant is so crucial for the successful operations of a business that CPAs have always been looked to with respect for their ability to advise business owners...

Court unravels complex real estate case

On the surface, a recent Tax Court case appears unremarkable, but it involved application of the Internal Revenue Code to a rather unusual set of facts.  In 1962, Adelina Van immigrated to the United States from China, as a single mother with her four children....

How to keep goodwill during a sale

The time has come. You’ve decided to sell your business. You know that a great deal of your business’s value comes from your existing client base. The potential buyer, whoever he may be, may not want your building, your processes or your company name, but...

Compensation: How to split the pie

How to divide law partner compensation is an area of practice management that causes more problems for a firm than most other areas. Generally, the smaller the firm, the easier it is to make a decision on how to split money. But as firms grow larger and more complex,...

How Much Is Your Business Worth?

Why do you need a business valuation? The prospective sale of the company might seem to be the obvious reason for getting a business valuation, but there are many other reasons as well.  They include: Estate, gift and trust planning– To determine estate taxes, a...