Most business owners carry a rough estimate of what their company is worth, but that mental number is not a valuation, and the gap between the two can be costly. A formal, methodology-based business valuation is required in a wide range of situations, including selling or transferring a business, estate planning, lending, divorce, equity compensation, and shareholder disputes. Working with a credentialed valuator and involving your CPA early ensures the resulting number is defensible when it matters most.
Tag: Sale
Tax Tip Tuesday – Home Sale? Know Your Tax Exclusions
If you sell your primary residence, you may exclude up to $500,000 of gain if filing jointly or $250,000 if filing single. To qualify for the $500,000 exclusion, one spouse must meet the ownership test, and both must meet the use test. If your spouse dies and you have not remarried, you may claim up… [keep reading…]