Jeff's Blog

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

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...
Fewer people currently are subject to transfer taxes than ever before. But gift, estate and generation-skipping transfer (GST) taxes continue to place a burden on families with significant amounts of wealth tied up in illiquid closely held businesses, including farms. Fortunately, Internal Revenue Code Section 6166 provides some relief, allowing the estates of family business owners to defer...
Audited financial statements come with a special bonus: a “management letter” that recommends ways to improve your business. This means free advice from financial pros who have seen hundreds of businesses at their best (and worst) and who know which strategies work (and which don’t). If you have not already implemented changes based on last year’s management letter, there is no time like the...
A primary estate planning goal for most people is to hold on to as much of their wealth as possible to pass on to their children and other loved ones. To achieve this, you must limit estate tax liability and protect assets from creditors’ claims and lawsuits. The Tax Cuts and Jobs Act reduces or eliminates federal gift and estate taxes for most people (at least until 2026). The gift and estate...

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