Monthly Archives: January 2014

Compiled, Reviewed, or Audited Financial Statements?

Most likely, your company prepares internal financial statements and then has an outside accountant review them and prepare the tax filings for the company. Is this enough to get through a transaction? The answer is most likely that it is not. There are three levels of external accounting review: Compilation, Review, and Audit. Compilation: Compilation is the most basic external review. The accountant assists the company in presenting financial information without undertaking to obtain or provide Read More [...]

Getting the Right Lawyer on Your M&A Team

While business owners typically like to hire lawyers almost as much as they like to get root canals, nothing can make a transaction smoother (or kill a transaction faster) than getting the right (or wrong) lawyer on your transaction team. There are really two different issues. First, many business owners are reticent to hire a lawyer at all. As a recovering lawyer myself, I get it. Lawyers are expensive and frankly, risk averse. Both of these tend not to sit well with entrepreneurs who are Read More [...]

Investors Continue to Look to Lower Middle Market

Michael Wursthorn of Dow Jones & Company recently reported that Riverside Co. concluded fund raising for its sixth flagship fund at $1.5 billion. While interesting, that is hardly news since raising and investing vast sums of money is what firms like Riverside do. The interesting kernel in the article for my clients is buried deep two thirds of the way down the page. Wursthorn commented that “For Riverside, however, an increasing number of limited partners continue to look to the midmarket, Read More [...]

GRATs – Save Taxes Like the Wealthiest Americans

Recently, Bloomberg reported that an “Accidental” Tax Break has been used by the wealthiest Americans to save $100 Billion on estate taxes.  The article and associated video mock the use of the grantor retained annuity trust, or GRAT, by the likes of Sheldon Adelson, Mark Zuckerburg, and Ralph Lauren. While your company might not be as large as Sands Corp (LVS), Facebook (FB), or Ralph Lauren (RL), you might be able to take advantage of this technique for your own estate planning efforts. A Read More [...]