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Buying or Selling the NJ Business

If you are buying or starting a business in N.J., there are some things that you should be aware of that may not be applicable in other states or other regions of the country.

An Accountant You Can Count On

Regardless of whether or not you decide to purchase or start a business, you are going to need an outside accountant.

How Should I Finance My Business?

The U.S. tax code and Federal bankruptcy law, however, does like debt since all of the interest on a business loan are fully deductible, and most debts can be discharged in bankruptcy court.

More on Buying Or Starting a Business

There was significant reader interest in the article entitled “To Buy or To Start a Business”. 

Franchises – A Dirty Business

Someone once said to me that everyone has a little larceny in them. And many franchisors have more than a little.

Due Diligence

The Business Plan

Birds do it, bees do it, even educated fleas do it. This is the first line from a 1928 Cole Porter song. And yes banks want it, creditors, want it, even equity investors want it. It’s a business plan.

To Buy Or To Start a Business That Is the Question

In Shakespeare’s Hamlet, in the opening line of the Nunnery scene, when contemplating suicide, Hamlet asks “to be or not to be, that is the question”. Hopefully, you are not contemplating suicide, but you may be contemplating whether or not to buy or start a business. For many prospective entrepreneurs, that is the question – to buy or to start.

More on Family Business

On one of my previous blogs, I discussed family business and the importance of not letting an owner’s spouse “run interference” in the management of the company. This is often a major cause of failure of closely held entities.

Dealing With the GuvMint as Ronny Reagan Pronounced It – The SBA 

Most business buyers, even those who are in a position to do so, do not want to pay cash for a business acquisition.

What Form or Organization Should I Use in NJ for My Business

You’ve been looking to purchase a business for months and you’ve finally found your dream candidate.

Bulk Sales and the Sale of Your Business

In my last article on taxes, I did not address the issue of bulk sales. Very few non-lawyers or non-accountants are familiar with this tax law, but as a business buyer or seller, you should be aware of it.

A Taxing Subject

“In this world, nothing can be said to be certain except death and taxes”, said Ben Franklin in 1789. That said, upon the sale of your business, you are probably going to incur long term capital gains taxes.

Due Diligence

Looking for Love in All the Right Places

Remember the Waylon Jennings song where the lyrics are “I was looking for love in all the wrong places, looking for love in too many faces”? Besides looking for love, you can also look for a business in too many places, and in too many faces.

How to Hire a Lawyer

As a buyer, you need your attorney to review the contract of purchase and sale that is usually prepared by the seller’s attorney. Generally speaking, there will be a number of issues that will have to be negotiated between your attorney and the seller’s attorney.

Hiring a Broker or Going It Alone

Lincoln said that a man who represents himself in court has a fool for a client.

Importance of Preparation Before Selling Your Business

Many New Jersey owners of small and mid-sized businesses fail to consider an exit strategy in the event that they decide to retire.

All in the Family

In The Godfather, Michael Corleone says to his wife: “Don’t ask me about my business”! You may want to recall this admonition in deciding what information about a family owned business to share with a spouse.

Importance of Financing in Selling Your Business

When a business owner is considering selling his or her business, too often s/he gives too little thought to how the buyer is going to pay for the purchase; this is often thought of as the buyer’s problem.

Due Diligence

How to Put a Number On Your Business

If you are thinking of selling your business, the value that you place on it is extremely important.