Josh Horn CPA CVA’s Post

What I learned from Mat Sorensen ! Mat Sorensen, an attorney and author, discusses the topic of purchasing businesses. 1. When acquiring a business, you have the option of conducting either a stock sale or an asset sale. Opting for an asset sale establishes a new company and transfers the liabilities of the previous company to it. 2. The success of operating a business hinges on its people. 3. Explore opportunities to acquire businesses that cater to your needs as a customer. 4. Prior to proceeding with a purchase, it's crucial to have a team comprising an accountant and an attorney thoroughly review the business's financials and tax returns. 5. Businesses can be acquired creatively, similar to real estate transactions. Aim to purchase a business of sufficient scale that you're not merely purchasing a job. 6. Avoid acquiring businesses that are experiencing financial losses unless you possess the ability to add value and have a solid plan to reverse the situation. Turnarounds entail considerably higher risks.

Discover how Merrimack Business Appraisers saved a seller $216k in taxes by clearly separating personal goodwill. Our precise business valuation made a huge difference! Learn more: https://bit.ly/38LvtAh #BusinessValuation #CaseStudy #BusinessAppraisal #TaxSavings

🛡️ LLC vs. Series LLC: Which Is Right for Your Real Estate Portfolio? If you're growing your real estate portfolio, should you use an LLC or a Series LLC? Here's a quick comparison to help you decide: 🔑 Key Takeaways: Reduced Liability: A Series LLC can protect your assets by isolating liability to a specific series, unlike a traditional LLC where all your assets are at risk. Cost-Effective: Setting up a Series LLC can be more affordable, especially if you own multiple properties. In many states, you can create multiple series under one parent LLC for a lower cost than setting up individual LLCs. Tax Efficiency: Series LLCs often streamline tax reporting by allowing you to file a single federal return for all series. However, stay informed, as IRS guidelines could change how Series LLCs are taxed. Simplified Maintenance: Managing multiple properties under a Series LLC is easier, with fewer annual reports and maintenance tasks. State-Specific: Not all states allow Series LLCs and legal treatment can vary, adding some uncertainty. Considering a Series LLC for your multi-property portfolio? It could be a game-changer, but it’s important to weigh the benefits against potential risks and legal complexities. Schedule a FREE strategy session to explore the best structure for your investments: https://aba.link/SScfb #RealEstateInvesting #AssetProtection #TaxStrategy

𝐃𝐨𝐧’𝐭 𝐎𝐮𝐭𝐠𝐫𝐨𝐰 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 Heard about the Connelly case involving a faulty Buy/Sell agreement? Our buy/sell cases have a built in feature that can help business owners avoid the $1MM increase in an estate tax bill the Connelly family is facing. Interested in learning more? Let’s chat! #connellycase #buysellagreemets #businessvaluation

𝐃𝐨𝐧’𝐭 𝐎𝐮𝐭𝐠𝐫𝐨𝐰 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 Heard about the Connelly case involving a faulty Buy/Sell agreement? Our buy/sell cases have a built in feature that can help business owners avoid the $1MM increase in an estate tax bill the Connelly family is facing. Interested in learning more? Let’s chat! #connellycase #buysellagreemets #businessvaluation

What Issues Should YOU Consider When Planning For The Sale, Disposition, Or Succession Of YOUR Business? Take a peek at our checklist in the video. Planning for the sale, disposition, or succession of one’s business is a challenging process. This topic is on many business owners’ minds, yet many struggle to take action and start planning. With our guidance, our clients have a better idea of where to start and what questions to ask when addressing their exit strategy. This checklist covers the key issues to consider when a business owner must make a decision regarding the sale, disposition, or succession of their business, such as: Identifying an optimal successor to take over the business. Considering ways to improve the business appraisal and valuation process. Developing an optimal buy-sell agreement that is fair to all parties involved. Understanding the impact one’s business has on their tax and estate planning goals. Scottsdale Founders Forum 2024 is coming up SOON. DM or call the office at 480-367-9000 if you know of a business owner thinking about exiting. Panelists include - Investment Banker Mark Young (creates bidding process to sell your company for full value) M&A Attorney Michael Patterson with Spencer Fane LLP (drafts letter of intent and sales contract, helps protect seller) Tax Strategist Greg Patel CPA, at MBE CPAs (minimizes tax on sale) Estate Planning Attorney Samuel DiPietro, JD, CPA, LLM, MST (creates legal structure for family legacy) Wealth Manager Armando Roman (Where do you invest the proceeds from your sale) Special Guest Steve Johnson, Safe Haven Defense founder Moderator Catherine Anaya, Emmy award-winning journalist https://lnkd.in/gzrPJ44K #Founders #WealthManagement #Taxplanning #ScottsdaleFoundersForum

If you’re a seller of an old-school CPA firm, no matter how antiquated your practice is – there is likely a buyer IF: - You realize that you aren’t going to get 100% seller-friendly terms (no matter what your broker tells you), - You work with your clients on becoming comfortable with the buyer and encourage them to stay aboard, - You acknowledge that there is room for improvement in the way your firm is run, AND, - You don’t insist on handcuffing the buyer every time they try to make a change. Having walked away from a few deals now in favor of growing my own book organically, the commonality has been that the sellers don’t actually want to retire. Rather, they want to cash in and hand off the stress/liability of firm operations to someone else without actually letting them bring the firm into the modern era. That sort of buyer/seller relationship is a recipe for disaster, and no buyer in their right mind would move forward with a deal on those terms. It is truly wild to me how many firm owners would rather die chained to their desk than sell their practice to someone who wants to modernize it. A deal isn’t going to be successful if the seller is a walking contradiction.

Why Merrimack Business Appraisers? Reason No. 1: Proven Process. Our logical steps ensure defensible valuations. Our reports document every step, explaining the what, why, and how, making our conclusions credible. Learn more: https://bit.ly/3rfoJkK #BusinessValuation #ExpertAppraisal

𝐃𝐨𝐧’𝐭 𝐎𝐮𝐭𝐠𝐫𝐨𝐰 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 Heard about the Connelly case involving a faulty Buy/Sell agreement? Our buy/sell cases have a built in feature that can help business owners avoid the $1MM increase in an estate tax bill the Connelly family is facing. Interested in learning more? Let’s chat! #connellycase #buysellagreemets #businessvaluation

𝐃𝐨𝐧’𝐭 𝐎𝐮𝐭𝐠𝐫𝐨𝐰 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 Heard about the Connelly case involving a faulty Buy/Sell agreement? Our buy/sell cases have a built in feature that can help business owners avoid the $1MM increase in an estate tax bill the Connelly family is facing. Interested in learning more? Let’s chat! #connellycase #buysellagreemets #businessvaluation