Entries by Sola Cole

Tax Consequences Can Be Costly When Buying A Business

If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax consequences. However, if you neglect tax issues during the negotiation process, the negative consequences can be serious. To improve the odds of a successful acquisition, it’s important to devote resources […]

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Trouble For Nonprofits Who Ignore IRS’s Private Benefit Provisions

Not-for-profits that ignore the IRS’s private benefit and private inurement provisions do so at their own peril. These rules prohibit an individual inside or outside a nonprofit from reaping an excess benefit from the organization’s transactions. Violation of such rules can have devastating consequences. Defining private benefit terms A private benefit is any payment or […]