On March 10, 2023, the banking industry was rocked by the collapse of two major institutions: Silicon Valley Bank (SVB) and Signature Bank. SVB, once ranked as the 16th largest bank in the United States, made history as the second-largest bank to fail in the country. Its investments in….
Understanding the intricacies of business valuation is critical when buying or selling a business. Read this article to learn more. What Is a Business Valuation? A business valuation is the process of determining the economic value of a business or company. It’s typically conducted by an independent third-party professional appraiser….
Expect a busy 2023 tax filing season as the new tax laws take effect. Start preparing now for the coming changes. With an expected 168 million or more individual tax returns about to be filed this year, it’s vital to organize your information to file your tax returns correctly. Fortunately, the IRS….
Divorce. It’s a topic no one likes to talk about. But that doesn’t change the fact that it is reality for hundreds of thousands of Americans each year. In fact, the U.S. reported over 600,000 divorces in 2020 alone. When divorce is on the table, especially for high net-worth individuals,….
On November 7th, Sam Bankman-Fried had an estimated $16 billion fortune, largely invested in cryptocurrencies. By the end of the week, that fortune was gone. According to Bloomberg, it was one of “history’s greatest-ever destructions of wealth.” It occurred alongside the collapse of his crypto exchange, FTX, an event that….
While it may seem like a simple game of numbers, business valuation is actually a complex process. Determining a company’s value depends on a number of different factors: some obvious and some less straightforward. Beyond that, the approach to business valuation can change depending on who is carrying out the….
Case Law Update Bathke v. Costley: Equitable Distribution and Hypothetical Sale of Assets with Tax Consequences
The recent case of Bathke v. Costley gave the Florida Court of Appeals, Fifth District, the opportunity to reexamine equitable distribution of marital assets and liabilities when it comes to a potential or hypothetical sale of entities that would incur capital gain taxes. In this case, Benjamin M. Bathke (“Husband”)….
Ellrich, Neal, Smith & Stohlman, P.A., one of the leading forensic accounting firms in South Florida, announced the recent retirement of its leader, W. David “Dave” Ellrich, CPA, CFE, CVA, ABV, MAFF, ASA, CFF. Dave helped shaped the litigation and forensic accounting industry as trailblazer in the 1980’s, cultivating a….
Marriages do not always work out. And when a marriage takes place in the public eye, the ensuing divorce often becomes a spectacle. The public is fascinated by massive divorce settlements of well-known and powerful people. Rumors, cheating, criminal activity, plastic surgery, and money… the most historically lucrative divorce settlements….
In general, accounting is a system of recording and summarizing the financial transactions of business entities. As the “language of business,” accounting quantifies a business or organization’s economic activities and shares the information with stakeholders. There are many fields which fall under the umbrella term of accounting, including tax accounting,….