A. If you are forming a small business, you face several choices. Sole Owner, Partnerships, corporation or S-Corporation, Limited Liability Corporation and Limited Liability Partnership. These entities have certain tax consequences that you need to be very aware of. An appointment with Bob Cohen will help you decide which entity would be the most tax advantage for you. Call for a free consultation.

A. There are many factors that we use to determine a fair market value for your business. We are active members of the International Business Brokers of America which provides us with listings throughout the country such as yours and will also give us ratio percentages of what businesses normally sell for based on their gross income. Of course there are many other factors that we will review based on your financial reports that will have a direct affect on your sales price.

A. There are pro’s and con’s with both, however the advantage of purchasing a business is that it has been in existence and many of the costs that are incurred getting a business started can be eliminated when you purchase a going concern.

A. Goodwill represents the value of the business that is above and beyond the worth of separately identifiable tangible business assets. Unlike physical assets, like buildings or equipment, goodwill is an intangible asset. The value of a company’s brand name, solid customer base, good customer relations, good employee relations, and any patents or proprietary technology are examples of goodwill.

A. This is an awesome question. Our expertise will assist you in looking at ways we can help you reduce taxes when you sell your business. Selling a business could generate a capital gain to the seller and proper analysis of your financials become extremely important when you decide to sell. We are completely up to date with the current tax laws and will be able to assist you with the proper tax planning that comes along with selling your business.