Many closely held businesses have shareholder buy/sell redemption agreements. These agreements are critical to maintaining business continuity when a key shareholder exits the company. When the redemption agreement is...more
8/20/2024
/ Closely Held Businesses ,
Connelly v United States ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
IRS ,
Life Insurance ,
Redemption Agreement ,
SCOTUS ,
Shareholders ,
Valuation
Personal goodwill refers to the reputation, relationships, and other intangible assets directly attributable to an individual professional rather than the business entity itself. It is especially relevant for professional...more
8/6/2024
/ Business Assets ,
Buyers ,
C-Corporation ,
Cancellation Rights ,
Goodwill ,
IRS ,
Legal Entities ,
Letters of Intent ,
Professional Networking ,
Professional Services Companies ,
Restrictive Covenants ,
S-Corporation ,
Shareholders
It is important to consider tax planning opportunities when selling your business, particularly where a business is a closely-held professional service corporation and the proposed structure of the deal is an asset sale. In...more