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Will You Add? - How to Sell A Business: Working With Your Attorney and CPA
It's not just commercials on television and radio that need actors to read information off-camera. There are a myriad of ways to use voice to educate, inform, guide, entertain, and, of course, sell. Places where you can use voice over talent include PowerPoint presentations, training videos, eLearning courses, flash introductions, voice mail greetings, on-hold advertisements and website audio messages.So, look at your media and if you would like to add some zip to your presentations then find a competent voice over talent. Here are vital steps that you should take to get the right voice for your job.1. Search for a Voice Over Specialist OnlineYou are looking for that
A second meeting over a specific offer gives your CPA concrete variables to calculate your tax liability, and possibly reveal solutions to minimize it.
You may meet with your CPA more often if yo
With the continuous pressure to lower costs and reduce prices, there still are a number of companies who have not converted to or even tried plastic corrugated returnable packaging. Many people state that since their material will never be returned why use something like corrugated plastic that costs two and three times as much? More often than not there are repetitive processes that would be a great candidate for reusable packaging using plastic corrugated at just about any company. Companies that move products throughout their plant in paper boxes only to gather them up at the end of the day and throw them away would benefit from using corrugated plastic cartons that could be reused o
Your CPA
Your primary goal with your CPA is to minimize the tax impact of your sale. Small changes in deal structure can make large differences in your after-tax cash from the sale, or be the difference in whether or not a deal gets done at all. A seller can save literally hundreds of thousands of dollars in taxes as a result of deal structure and asset allocation decisions. If you have a small business that won’t sell for hundreds of thousands of dollars, don’t think there isn’t a role for a quality CPA. There is.
A typical CPA is going to charge you somewhere between $100 and $200 for a one hour consultation. For a smaller business, a good CPA should take no more than thirty minutes to give you an intelligent assessment of your tax exposure based on likely deal structures. Spending $100 to save $1,000 on a small business sale, or to make sure you simply didn’t miss an opportunity, is a good deal.
When to Meet with Your CPA
Meet with your CPA at two critical junctures: after you first decide to sell, and when you are evaluating an offer that includes any agreement on the structure of the deal.
The first meeting will allow you to develop an understanding of deal structure issues, particularly in terms of tax implications. This will make you a more informed decision-maker and a better negotiator. There are numerous internet based resources that will help you gain a base of knowledge that will make your time with a CPA more valuable. Simply type "how to sell a business" in a search engine like Yahoo, MSN or Google, and you will be able to find several quality resources.
A second meeting over a specific offer gives your CPA concrete variables to calculate your tax liability, and possibly reveal solutions to minimize it.
You may meet with your CPA more often if you
Do you have clients that take up to 60 days to pay their accounts receivable? Waiting months to get paid for your invoices can wreak havoc in your company’s cash flow, especially if you have to meet payroll, pay suppliers and pay rent. But what happens if your business can’t wait to get paid because it must meet its obligations?One solution to this problem has been gaining popularity recently. It’s called accounts receivable factoring and it allows you to turn your slow paying receivables into cash, almost immediately. It works by selling your receivables to a factoring company, who in turn, pays you on the spot. This provides you with the necessary cash flow to pay suppliers, re
A typical CPA is going to charge you somewhere between $100 and $200 for a one hour consultation. For a smaller business, a good CPA should take no more than thirty minutes to give you an intelligent assessment of your tax exposure based on likely deal structures. Spending $100 to save $1,000 on a small business sale, or to make sure you simply didn’t miss an opportunity, is a good deal.
When to Meet with Your CPA
Meet with your CPA at two critical junctures: after you first decide to sell, and when you are evaluating an offer that includes any agreement on the structure of the deal.
The first meeting will allow you to develop an understanding of deal structure issues, particularly in terms of tax implications. This will make you a more informed decision-maker and a better negotiator. There are numerous internet based resources that will help you gain a base of knowledge that will make your time with a CPA more valuable. Simply type "how to sell a business" in a search engine like Yahoo, MSN or Google, and you will be able to find several quality resources.
A second meeting over a specific offer gives your CPA concrete variables to calculate your tax liability, and possibly reveal solutions to minimize it.
You may meet with your CPA more often if yo
Blueprints are a critical part of any construction job, whether the job is big or small. In all cases, the ubiquitous blueprint is always in danger of being torn, damage, stained, or just worn out.Contractors typically carry blueprints as rolled documents which are referenced repeated times during a work day at the construction site. The potential dangers for blueprints include general wear and tear, weather, coffee spills, burns from cigarette ashes, and dirt and grime. The contractor often travels from site to site with the rolled blueprints tossed causally in the truck. If you have ever been to a construction site, you know that they are a chaotic and dirty place; this makes pr
When to Meet with Your CPA
Meet with your CPA at two critical junctures: after you first decide to sell, and when you are evaluating an offer that includes any agreement on the structure of the deal.
The first meeting will allow you to develop an understanding of deal structure issues, particularly in terms of tax implications. This will make you a more informed decision-maker and a better negotiator. There are numerous internet based resources that will help you gain a base of knowledge that will make your time with a CPA more valuable. Simply type "how to sell a business" in a search engine like Yahoo, MSN or Google, and you will be able to find several quality resources.
A second meeting over a specific offer gives your CPA concrete variables to calculate your tax liability, and possibly reveal solutions to minimize it.
You may meet with your CPA more often if yo
Up until a few years ago there were only 3 types of formal business formations. These were the corporation, a partnership and a sole proprietorship. Each had both positives and negatives and depending on your situation, you would choose the right one for you.The latest business type however has attempted to create like a hybrid with the benefits of sole proprietorship and protections of a corporation without the formalities.An LLC (limited liability company) provides the benefits of liability protection, like a formal corporation but also features the tax design of a sole proprietorship or partnership. The biggest benefits of an LLC are in the taxation and liability area
Meet with your CPA at two critical junctures: after you first decide to sell, and when you are evaluating an offer that includes any agreement on the structure of the deal.
The first meeting will allow you to develop an understanding of deal structure issues, particularly in terms of tax implications. This will make you a more informed decision-maker and a better negotiator. There are numerous internet based resources that will help you gain a base of knowledge that will make your time with a CPA more valuable. Simply type "how to sell a business" in a search engine like Yahoo, MSN or Google, and you will be able to find several quality resources.
A second meeting over a specific offer gives your CPA concrete variables to calculate your tax liability, and possibly reveal solutions to minimize it.
You may meet with your CPA more often if yo
As a merchant you want, one of your many goals is to provide your customers with as many opportunities to pay you as possible. One of the most convenient ways for many customers to pay you is with their credit cards. For the customer it means added security because if there is a problem, they have the credit card company behind them. For you, the merchant, it means the funds are in your bank in 24 hours and there is no handling of cash. But who should you go to in order to set up your merchant account and what questions should you ask? There are some very important questions you should ask yourself and your prospective merchant processor before committing to one.What are t
A second meeting over a specific offer gives your CPA concrete variables to calculate your tax liability, and possibly reveal solutions to minimize it.
You may meet with your CPA more often if you have multiple offers over time. After you get a little education from him or her, you will be able to make some decisions on your own, but call your CPA before entering into a final and binding purchase agreement. If they are familiar with your situation, a shorter, cheaper phone call may suffice.
If you’re trying to economize, you can meet with your CPA only before committing to a deal that includes financial structure details that can affect your tax situation. We do advise working out allocation issues prior to a binding purchase agreement for the simple reason that you don’t want to get the parties committed to a deal and then blow it up over a meaningful change due to tax concerns.
TIP: All CPA’s are not created equal. You need one with experience in business transactions. If your normal CPA does not frequently deal in business transactions, then you need to find one who does. Ask CPA’s pointed questions to see if they seem to have a grip on the implications for a business sale.
Your Attorney
A good business attorney will help you review your purchase agreement both for issues that protect your interests, and to ensure that it complies with legal requirements in your jurisdiction.
You can find excellent purchase agreement templates online that are designed to be balanced and treat both parties fairly. While you can settle most of the issues in your deal with one of these templates, be sure to have an attorney review the agreement before committing to it. Your deal or business may have unique attributes that need to be accounted for. In addition, each state has its own laws and regulations, and your attorney will ensure the standard required language in your sta
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