4Thought Blog

Business Valuation: How CVAs Determine Your Business’s Value

Most business owners and attorneys know the basics of the business valuation process. For example, you might know that there are three approaches to value: the cost, market and income approaches. You might even know some of the methods that fall under these approaches, including the: Adjusted book value, Excess earnings, Guideline public company, Merger…

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The Home-Sale Gain Exclusion Tax Break: Cashing in on the Sellers’ Market

In many areas, residential real estate markets have surged, and some are still surging. In these sellers’ markets, big home-sale gains are likely. That’s great news if you’re a seller — but will you owe taxes on the profit? If you sell your principal residence for a large profit, you can potentially exclude tax (pay no…

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Post-PPP Financing Options to Grow Your Business

Business activity ground to a halt in many areas during the pandemic. Fortunately, the Paycheck Protection Plan program and other relief programs rescued many small enterprises from financial crisis. If certain requirements are met, all or part of PPP loan proceeds may be forgivable — similar to a grant from the federal government. The PPP…

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Don’t Risk Your Nonprofit Status: Be Aware of Private Inurement Rules

Most nonprofit executives are aware of the prohibition against private inurement. Generally, nonprofit directors and executives — and their family members — aren’t allowed to personally benefit from their positions while putting their organization at a disadvantage. Penalties for violating the private inurement mandate could include financial sanctions for violators and, in the rare worst-case…

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Manufacturing Workplace Safety: 7 Improvements to Consider

Workplace safety is a top concern among manufacturers. Without taking COVID-19 into account, the National Institute for Occupational Safety and Health estimates that occupations within the manufacturing sector account for 5% of U.S. workers, yet they represent 8% of all workplace fatalities. Unfortunately, COVID-19 has added to the safety concerns that manufacturers face. At the…

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Biden’s Infrastructure Plan: What is Construction’s Opportunity?

President Biden’s infrastructure plan is set to improve failing infrastructure, rebuild the economy and create new jobs. As of this writing, the plan, which Biden originally released on March 31 as a $2 trillion capital injection over 10 years, is a $579 billion proposal that has bipartisan agreement, though Democrats have signaled the bill may…

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Should You Have the Same Office Post-COVID? Maybe Consider a New Approach

Where your business is located, and how you use the commercial space that you have, can mean the difference between thriving and just limping along — or worse. That fact was brought home for many business owners during the COVID-19 pandemic, when lease payments became a big financial strain, and dust was accumulating on the…

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Taxpayer Tips from the IRS: Protection from Scammers

Understanding how the IRS communicates can help taxpayers protect themselves from scammers who pretend to be from the IRS with the goal of stealing personal information. Read on below to get insights from the IRS on how they communicate – and how they don’t – so you can best be prepared to handle possible fraud…

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4 Guiding Principles for a Family-Business Succession Plan

Many successful companies are family owned and run. And there’s a good reason for it. It takes passion to run a profitable business — especially a smaller one. A family-owned company can benefit from the special dedication of a founder at the helm and possibly a spouse, siblings and children working alongside. But the devotion…

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The Pros & Cons of Joint Ownership in Estate Planning

Estate planners often tout the virtues of owning property jointly — and with good reason. Joint ownership generally offers several advantages for surviving family members. But this shouldn’t be viewed as a panacea for every estate planning concern. You must also be aware of all the implications.

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