Exit planning is a business strategy and chances are, you are not prepared. Take the right steps now!

Mears NickBusiness Consulting

Exit Planning For Your Company

Exit planning is a business strategy. It assimilates your business, personal, and financial goals and serves as a guide for success. According to Christopher Snider of the Exit Planning Institute (“EPI”), exit planning combines the plan, concept, effort, and process into a clear, simple strategy to build a business that is transferable through strong human, structural, customer, and social capital. … Read More

Family Law: What Attorneys Need To Know Now, Not Later

Mears NickLitigation Support

Family Law

Understanding local trends in the family law industry provides insight into the future and how to prepare for changes. In this issue, we will be looking at divorce trends in my hometown of Lubbock, Texas and how it compares to trends across Texas. If you do not practice in Lubbock or its surrounding areas, you will still gain valuable insight. … Read More

Controversial IRS Section 2704 Regulations Seem Inevitable

Mears NickBusiness Consulting

IRS Section 2704 Regulations

Last month, I discussed the consequence of the Internal Revenue Services’ (IRS) proposed Section 2704 regulations and how family-owned businesses could be facing significantly increased tax liabilities. On December 1, 2016, the IRS held a hearing where 37 witnesses testified to the IRS to fight the proposed IRS Section 2704 regulations. The witnesses included valuation experts, attorneys, wealth planners, and … Read More

The value of your company may be going up; and that may not be a good thing!

Mears NickBusiness Consulting

Business Value Going Up

The Internal Revenue Services (IRS) released their proposed Section 2704 regulations on August 2, 2016. IRS Section 2704 was originally enacted in 1990 with the primary goal to limit discounts for certain family partnership or LLC interests that were transferred to family members. In a nutshell, Section 2704 seeks to dramatically increase the value of intra-family transfers of ownership interests … Read More

Business Valu-what?

Mears NickBusiness Consulting, Business Valuation

Business Valuation News

Today, we are going to take a look into the important business valuation questions surrounding closely-held private companies. Specifically, we are going to look into how the value of your business affects you directly, when you might need one, and how to find the right business appraiser. Business owners in today’s technological atmosphere are busier than ever, which inspired me … Read More

Is Your Business Benchmarking or Bench Warming?

Mears NickBusiness Consulting

Business Benchmarking

Would you go to your favorite sporting event if they didn’t count the score? Sporting events may end in a tie, like in soccer or hockey, but the team’s intention was to win and a player’s goal is to stay healthy and off the bench. Generally, in business, a win is when a company is generating enough cash flow to … Read More