1. Articles in category: Family Business

    1-15 of 15
    1. AICPA Asks Treasury and IRS to Withdraw Proposed Estate Tax Regulations

      AICPA Asks Treasury and IRS to Withdraw Proposed Estate Tax Regulations

      The American Institute of CPAs (AICPA) has asked the Treasury Department and the Internal Revenue Service (IRS) to withdraw regulations regarding the valuation of interests in corporations and partnerships for estate, gift, and generation-skipping transfer tax purposes. The regulations were proposed under Internal Revenue Code section 2704.

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    2. All Hail Medium-Term Planning

      All Hail Medium-Term Planning

      There is a chronological no-man’s land that executives steer diligently clear of, as if it were a sort of Bermuda triangle. Think about it. When did you last hear a CEO utter the words, “In nine months time…” or “This time next year…” or “By the fall…” We have worked with corporations throughout the world, and the phrase we simply never hear is this: “the medium term.” The medium term — what is going to happen in six months, nine months, a year, 18 months — is not a unit of analysis commonly used in the world’s C-suites. The reasons ...

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    3. Why the 21st Century Will Belong to Family Businesses

      Why the 21st Century Will Belong to Family Businesses

      I was recently asked to give a talk about family businesses, and the conference organizer told me not to even mention the “three generation rule.” As he put it: “Everyone already knows that family businesses don’t last.” He’s perfectly right. An oft-cited statistic is that only 30% of family businesses make it through the second generation, 10-15% through the third, and 3-5% through the fourth. These are disheartening numbers. But let’s put them in perspective.

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    4. Making Better Decisions in Your Family Business

      Making Better Decisions in Your Family Business

      The decisions facing business families can be gut wrenching – and the implications of these decisions can be huge both for the future of the family and also of the business: “Who should the next CEO be – my daughter or my son?” “Should we buy our cousin out of the business?” “Can non-family directors be trusted to make key decisions for our business?” To help our clients, we use a simple analogy for how and where strong family businesses make decisions.

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    5. Keeping the Business in the Family

      Keeping the Business in the Family

      The fate of a family business can be tricky when the owner is no longer able to remain at the helm. Is there an obvious successor? Is there a succession plan in place? Encouraging your clients to think about succession planning for their businesses is difficult; none of us want to think about the day we can no longer work. However, when the business is a closely held family business, the discussion as to whether to leave the business in the family is often more emotional.

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    6. Small Businesses Receive Form 3115 Relief under Tangible Property Regulations

      Small Businesses Receive Form 3115 Relief under Tangible Property Regulations

      With the release of Revenue Procedure 2015-20 on Friday, February 13, the IRS has made it easier for small businesses to comply with the complex tangible property (repair) regulations. The new Revenue Procedure follows voluminous requests by small businesses and the professional tax community for relief from the burdens and costs of delving into past transactions and filing additional forms imposed by the tangible property regulations.

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    7. How to Handle the Challenge of Transitioning Control of a Family-Owned Business

      How to Handle the Challenge of Transitioning Control of a Family-Owned Business

      The Mascilli family, which owns East End Plumbing and Mechanical in Sharpsburg, Pennsylvania, started several years... Realtors See Increase in Pending Home Sales The number of Americans signing contracts to buy homes rose modestly in November as a strengthening economy... New Illinois Law Requires Most Businesses to Offer Employee Retirement Plan The law requires all businesses in operation for at least two years and that have at least 25 employees, to offer... DAILY NEWS Smart Cars, Homes and Even Toasters in Spotlight at at CES Imagine a world in which your garage door opens automatically as you pull into the ...

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    8. President Signs Tax Extenders Bill

      President Signs Tax Extenders Bill

      On December 19, President Obama signed a one-year tax extenders package into law. The bill, H.R. 5771, includes the Tax Increase Prevention Act of 2014 which extends a package of more than 50 individual, business, and energy provisions through the end of 2014. The House and Senate passed this legislation on December 3 and December 16, respectively.

      The summary below lists some of the major provisions which have been extended.

      Individual extenders

      • The option to take an itemized deduction for state and local general sales taxes instead of state and local income taxes.
      • The increased contribution limits and carry ...
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    9. Can an Outside CEO Run a Family-Owned Business? - Josh Baron and Rob Lachenauer

      Can an Outside CEO Run a Family-Owned Business? - Josh Baron and Rob Lachenauer

      Gus, the dad of one of us (Rob), found his dream job. After being head of sales in a large sporting goods company for over a decade, he was ready to move up to a CEO role. A good friend ran a sizeable sports cap company, a family business, and he was looking to step aside. Gus took the job and relocated his family. Eighteen months later he was out and looking for new employment. What happened? A son may not always be unbiased about a parent, but Gus was a smart businessman.

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    10. 4 Ways to Build a Board You Won't Hate

      4 Ways to Build a Board You Won't Hate

      This article is part of DBA, a new series on Mashable that features insights from leaders in entrepreneurship, venture capital and management.

      Two hours into a recent board meeting, I was fried. My eyes had glazed over, and I found myself wondering: Why do some board meetings leave me energized while others suck the very life out of me? I did the math and came to the sobering conclusion that, in the past fifteen years, I've spent thousands of hours in meetings like that one.

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    11. How One Family Business Is Solving the Succession Problem

      How One Family Business Is Solving the Succession Problem

      Will your business be able to survive the next generation? One business has figured out a plan.

      Go ahead, ask anyone who's in a family business about what it's like working with other family members, and you'll hear anything from "We love each other too dearly," to, "Today I almost killed my sister. " Emotions, squabbles, fights and the like are pretty common, even among some of the most successful family operated companies.

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    1-15 of 15
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