Jeff's Blog

Thoughts from Our Managing Partner and Other M&S Thought Leaders

In many industries, market conditions move fast. Businesses that don’t have their ears to the ground can quickly get left behind. That’s just one reason why some of today’s savviest companies are establishing so-called “shadow” (or “mirror”) boards composed of younger, nonexecutive employees who are on the front lines of changing tastes and lifestyles. Generational change Millennials — people who...
Like many employers, you may allow employees to carry over unused vacation pay from one year to the next. With the year winding down, and gift-giving on the minds of many, certain staff members might inquire about donating their unused vacation pay to charity. In turn, you may wonder: Is doing so allowed under IRS rules? “Assignment of income” Indeed, it is. For federal tax purposes, charitable...
If you are considering buying or selling a business — or are in the process of a merger or acquisition — it is important that both parties report the transaction to the IRS in the same way. Otherwise, you may increase your chances of being audited. If a sale involves business assets (as opposed to stock or ownership interests), the buyer and the seller must generally report to the IRS the...
Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. If you extend customer credit, however, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers miss their payments. Even worse, they could declare bankruptcy and bow out of their obligations entirely. For this reason, it is critical...

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