Exit planning is not usually the first thing entrepreneurs and business owners are thinking about. The daily demands of growing a business often take priority over long-term planning, but it’s the long-term planning that can transition current success into something that lasts a lifetime. 99% of business owners say that their transition strategy is important to their future and the future of their business yet less than 50% have an exit plan in place.

I’m a small business. Read More >>

Tom Krause, CPA is a Founding Director at Corrigan Krause.

Have you ever considered selling your business? Do you anticipate selling in the future? If yes, it’s important that you familiarize yourself with EBITDA and how it could affect the future sale of your business.

What is EBITDA?

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization, and measures a company’s operating performance.  In the past, investors have typically focused on cash Read More >>

Derek Solomon, Senior Manager and David Long, Director, at Corrigan Krause

In business, it is commonly known that “valuation is an art, not a science.” This essentially means that when creating a valuation analysis, it important to go beyond the numerical analysis and get to the story “behind the numbers”. This also refers to the “art” of valuation analysis, as there are a variety of important areas of judgment that will affect the ultimate conclusion. The business valuati Read More >>

David Long, CPA, CVA is a director at Corrigan Krause.

Going through a divorce can be financially draining if you do not have the right team supporting your financial decisions. Settling a divorce agreement requires more than an attorney, especially if your wealth is at stake. Consulting with a public accountant is critical in steering your financial decisions in the right direction. So how can a CPA assist clients going through a divorce?

Understanding current tax law iss

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Chris Eichmuller shares what you should consider when starting a side business.

Are you considering starting a side business? The business plan is drafted, your concept is solid and you’ve acknowledged the time commitment and the financial risk. Now what? Where should you start? Here’s what you should know to set a strong foundation to grow upon.

Should I incorporate or form an LLC?

This is a popular first question for those considering starting a side business. Answer thes Read More >>

Sal Caroniti explains who must file and the penalties for failing to report unclaimed funds. 

November 1 marks Ohio’s annual unclaimed funds reporting deadline for all companies, with the exception of Life Insurance companies.

What are unclaimed funds?

Most commonly in savings or checking accounts, stocks, uncashed dividends, security deposits, IRS refunds and more, these accounts can become unclaimed when there has been no activity and the holder of the funds canno Read More >>

Carleigh Machock provides advice on what to consider before and during your journey as a business owner.

Starting a new business is a dream for people. Maybe you have a great idea for a startup company, but aren’t quite sure where to start or what you should consider. Aside from motivation and a strong will to succeed, there are several aspects that need to be addressed before taking the plunge into uncharted waters. It’s vital to have a solid understanding of the financial po Read More >>

65% of business owners don’t. This alarming statistic was presented at the National Association of Certified Valuators and Analysts (NACVA) 2017 Annual Consultants’ Conference held in June in Chicago. Determining the value of a business can be done both formally and informally. Having a solid understanding of the value of your business through its life cycle, and the related business value drivers, is key to achieving your goals.
For those who watch Shark Tank, we see tim Read More >>

Sean Brady, CPA shares some key benchmarks that may indicate it’s time for an audit:

 

 

“The times, they are a-changin’,” is not just a title of a well-known Bob Dylan song. It’s commonly indicative of why your organization may need an audit.

Audits are typically brought about by change, primarily a change in the stakeholders. To clarify, we are not talking about the “dreaded” IRS audit. Instead, we are talking about a f Read More >>

Sal Caroniti, CPA has some advice for any business owner considering an advisory board to assist with their company:

 

 

It’s no secret to a business owner that small businesses often face resource limitations. For example, the small size of the company may mean there are not enough margins to be able to absorb full time, executive-level personnel. Because of that, many small business owners today rely on an outside advisory board for valuable insight and Read More >>