MLR

Category: Special Publications

Congress is enacting the biggest tax reform law in thirty years, one that, if signed into law, will make fundamental changes in the way you, your family and your business calculate your federal income tax bill, and the amount of federal tax you will pay. Since most of the changes will go into effect next year, there’s still a narrow window of time before year-end to soften or avoid the impact of crackdowns and to best position yourself for the tax breaks that may be heading your way. Here’s a quick rundown of last-minute moves you should think about making.

The standard financial due diligence process focuses on providing potential investors with an understanding of a company’s sustainable EBITDA, historical operating trends, working capital needs, and accounting policies and procedures.

However, access to the C-suite during fieldwork allows a financial diligence provider to gain valuable insight into other aspects of a company’s operations that may be just as important when evaluating a deal. In particular, financial diligence teams may uncover significant issues affecting post-acquisition integration and the investor’s ability to effectively monitor and effect change post-transaction.

Congress moved one step closer to the finish line on November 28th with the Senate Budget Committee approving its tax reform package for a vote by the full Senate in the coming days.  If passed, it would then need to be reconciled with the tax reform bill already passed by the House before a final version could be sent to the White House.

As Congress moves closer to the finish line on tax reform, many clients may be asking what they should be doing right now to best position themselves for tax savings, and to avoid or soften the impact of disappearing deductions. The following offers year-end moves that can accomplish both goals.

In the context of mergers and acquisitions, potential investors get a level of assurance when the investment target is audited.  However, relying solely on the target’s audited financial statements when making an investment decision could be shortsighted.

Three new accounting changes will impact financial statements issued by accounting firms in the upcoming years. While we continually discuss these changes with our clients, we also want their lending institutions and investors to understand the effect these changes may have on their clients’ debt covenants, revenues, earnings and other information used to make funding decisions.

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Have you recently purchased a new building? Are you planning to construct a new facility? Are renovations of your existing building in your plans?

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Many companies provide their financial statements, along with a CPA’s report, to lenders, investors, suppliers and customers. Informed readers of the report will gain varied levels of comfort based on the type of financial statement provided.

W2 Employees vs 1099 Contractors: Know the rules with independent contractors

With an increased capital gain tax rate of 20 percent for tax years 2013 and after, small-business owners should be aware of a provision that eliminates one-half or more of capital gains recognized on the sale of their corporate business.