While you’re in the midst of planning, growing or expanding your business, it’s important to develop and execute a buy-sell agreement between all business owners. A buy-sell agreement can provide structure for an unexpected event such as a death or disability, and provide a road map for expected events such as a shareholder retirement buy-out. Setting up a buy-sell agreement in the early stages of your business planning can help you handle the unexpected and expected events more swiftly in the future - and with a lot less stress.
President Joe Biden signed the budget reconciliation bill H.R. 5376 into law Tuesday, August 16, 2022. Better known as the Inflation Reduction Act, the bill includes a number of tax provisions that may affect your business.

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 >>