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Showing 38 posts in Closely Held Businesses.
Data Protection Lunch Seminar - REGISTER TODAY!
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Small businesses in Kentucky require additional guidance
There is often a great deal of fluctuation when it comes to the flourishing of small businesses. Though Kentucky has been pushing for small businesses in our state, announcements for new businesses has been lower in 2014 than it was at the same time in 2013. More >
Resolving disagreements in a closely held business
Those managing closely held businesses are as prone to disagreements with each other as are those managing any other kind of business. However, a closely held business does present a unique series of challenges in that resolution of those disagreements can be difficult to resolve. More >
Lost & Found: How Business Owners Should Handle Unclaimed Property
This week, it was announced that Kentucky State Treasurer, Todd Hollenbach, has returned more than $100 million in unclaimed property to its rightful owners during his six years in office. According to Hollenbach, that is more than all the state treasurers combined returned in the 60 years before his administration. That is quiet an impressive statistic. More >
Capital gains tax treatment for a closely held business
When it comes to closely held businesses, taxation can also be a challenging issue. This turned out to be especially the case where differences of opinion rose concerning valuations of a built-in capital gains tax discount. This occurred upon the death of one of the family members who owned 23.44 percent of the business. Without any discounts, the value of her share would have been placed at $12.2 million. More >
Deciding whether to make an election for an S corporation
Kentucky business owners will often form a corporate or other business entity due to tax considerations. Without this formation income and tax expenses can end up on one's Schedule C for the personal tax return. The problem with a Schedule C is that this sort of tax return is one that may trigger an audit by the IRS. More >
Business succession involving closely-held businesses
Kentucky business owners hope that when exiting a business they get out of it what they put into it. This is especially true when it comes to owners who have devoted much of their lives to a closely held business. More >
Shareholders bring lawsuit against the company president
A Kentucky politician has been accused by shareholders of using company money to fund his campaign activities. The shareholders of Liberty Rehabilitation claim that over $30,000 of the funds were used for campaign activities. The shareholders were concerned about the expenses and claim to have verified that improprieties were occurring. More >
Many high-tech companies moving to Kentucky
In 2013 Kentucky awarded 26 high-tech companies $6 million in state funds as a program to attract these types of businesses to our state. The funding is coming through two programs called the Small Business Innovation Research and the Small Business Technology Transfer Matching Funds program. More >
Partnership considerations when converting to corporate status
Due to various law changes, many partnerships are reevaluating their legal status. Often the choice has been to convert to an S corporation. However, at least one commentator suggests that converting to a C corporation may prove to be a better option from the perspective of tax considerations. More >
