Planning for the Future: Five Business Succession Options and Their Tax Implications
October 22, 2025 When the time comes to consider your business’s future, a well-designed succession plan can help protect your legacy and position the next generation of leaders or owners for long-term success. Whether you’re preparing to retire, scaling back your involvement or simply want a solid contingency plan in place should you unexpectedly be […]
Mergers and Acquisitions of Architectural and Engineering Firms
October 21, 2025 As architectural and engineering (A/E) firms grow and mature, firm owners will eventually face the critical decision on how to successfully transition ownership. Without a clear and proactive plan for ownership transition, firms will likely not reach their full potential, and the value will be limited. Transition strategies generally fall into two […]
Key Considerations for Federal Acquisition Regulation (FAR) Audits
March 11, 2025 In recent years, a growing number of architectural and engineering (A/E) firms have found it necessary to obtain audited overhead rates that comply with the Federal Acquisition Regulation (FAR). This shift stems from several factors, including the economic downturn that has led firms to pursue government contracts as private development projects declined. […]
Perception vs. Reality: What’s the Value of a Business Interest?
February 10, 2025 A business interest’s value is more than just a number to its owner. It represents years of hard work, sacrifice and investment. Owners often believe they have a clear understanding of their company’s worth. But emotions and optimism about future earnings can cloud their perception. Let’s look at psychological factors that may […]
The Inside Scoop: Unlocking Business Value With Face-To-Face Insights
o determine how much a business is worth, a valuation professional must develop a comprehensive understanding of how it runs. Financial statements and tax returns tell only part of the story. In-person inquiries provide additional insights that can significantly impact value conclusions. Owner and Manager Interviews If a valuator hasn’t previously toured a company’s facilities, […]
Forms W-2 and 1099-Nec Are Due To Be Filed Soon
January 15, 2025 With the 2025 tax filing season underway, be aware that the deadline is coming up fast for businesses to submit certain information returns to the federal government and furnish them to workers. By January 31, 2025, employers must file these forms and furnish them to recipients: Form W-2, Wage and Tax Statement. […]
Keys to Ownership Transition and Business Succession Planning
December 12, 2024 Business succession planning is essential for all privately-owned companies, and the importance of a detailed plan is magnified during periods of economic upheaval. Planning for ownership transition is even more critical for companies that may also rely on future owners to be key members of management and possibly rainmakers who generate sales. […]
New Tax Reporting Requirements for Payment Apps Could Affect You
February 01, 2022 If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could be affected by new tax reporting requirements that take effect for 2022. They don’t alter your tax liability, but they could add to your recordkeeping burden, as well as the number of […]
Don’t Miss Out on the Employee Retention Credit For 2020 and 2021
January 12, 2022 With the beginning of the new year, most companies are trying to put the pandemic-filled 2020 and 2021 in the past and are planning for 2022 and beyond. As they prepare for the future, every company should look back at the employee retention credit (ERC) for 2020 and 2021 to determine if […]
Protecting Retirement Plans From Cyberattacks
December 14, 2021 Do you have a robust cybersecurity policy to keep your retirement plan safe from cybercriminals? The 2021 Cyber Security Risk Report by Aon finds that, “organizations often have a false sense of confidence regarding data security, particularly when it comes to risks potentially posed by third-party service providers.” The ever-growing magnitude of […]