Rob Macklin

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Driving Value Before an M&A transaction

The Mergers and Acquisitions market continues to be hot. While it was initially unclear how the pandemic would affect it, the M&A market has proven to be highly adaptable and has recovered nicely. Historically low borrowing costs means motivated buyers, and while it continues to be a seller’s market, smart business owners are those that are still looking for opportunities to put their business in the best position to capture the highest possible price.

One avenue that many sellers go down is the private equity route.  But while there is a lot of private equity money chasing deals, private equity buyers are still some of the sharpest acquirers out there.  They will evaluate the business from all angles, and if there is a problem – or just an opportunity to drive the sales price down – they’re going to find it.

To prepare for that sort of sophisticated buyer, the smart seller needs to address potential problems before the sale. With appropriate time, there is significant ability to fix problems and to drive meaningful value.

One to five years before a sale, a business owner needs to stay focused on achieving the following.

  • Showing positive growth rates in sales, earnings and EBITDA
  • Developing strong EBITDA margins compared to competitors
  • Developing recurring revenue streams
  • Diversifying (where possible) your customer base and cleaning up your contractual relationships
  • Develop a succession plan that empowers managers and eliminates excess dependence on key people
  • Optimize your legal, operational and tax structure to maximize your post-tax sales price
  • Settle litigation and pre-litigation claims whenever possible
  • Evaluate and protect your branding and IP portfolio

Even if you are not thinking of selling today, most business owners will receive one or more unsolicited offers at some point, and it’s important to be prepared. Waiting until a deal is imminent will only erode value. Unfortunately for business owners, the best time to sell is probably not the time they actually want to sell. While personal timing is important, business owners looking to maximize their sale price need to be flexible and take advantage of the market.

Next Steps

The selling of a business can take six months – or longer – so preparing ahead of time is key. Consider your advisors early. A private equity buyer may purchase 20 businesses a year. That can be intimidating for a business owner who only has one chance to sell their company. The stakes are incredibly high and assembling a team of expert advisors and giving yourself time to address liabilities is the best way to ensure you will be satisfied with your sale.

To learn more about M&A in a post-Covid world, join me for the virtual Deal Makers conference on February 18. I’ll be part of a panel discussing how middle market companies can manage risks and maximize value during the sale process.

 

DOL Overtime Law

Consolidated Appropriations Act 2021: What Employers Need to Know

On December 27, 2020, the U.S. government enacted the Consolidated Appropriations Act, 2021, which is the second-largest federal stimulus package after the $2 trillion CARES Act passed back in March. Within the bill is the Coronavirus Response and Relief Supplemental Appropriations Act (the “Act”). The Act was enacted to help relieve the financial stresses businesses are experiencing during this economic downfall. The Act extended the Paycheck Protection Program (the “PPP”), enhanced the Coronavirus Aid, Relief, and Economic Security Act’s (the “CARES Act”) relief, and provided additional relief. Below is a summary of changes to the PPP, tax provisions, business meal deduction, and employment benefits.

Expansion of the Paycheck Protection Program

The Act added an additional $284 billion for forgivable PPP loans and extended the program to March 31, 2021. Small businesses categorized as “hard-hit” businesses that received PPP loans in 2020 will be eligible for a second round of funds. The eligibility requirements for the second round of PPP loans are:

  • Have 300 or fewer employees;
  • Have used or will use the full amount of their first PPP loan; and
  • Show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019.

The additional eligibility requirements stated above do not apply to first-time borrowers. The size of a PPP loan is limited as follows:

  • A business may obtain 2.5 times its average monthly payroll; or
  • A business in Accommodation and Food Service (NAICS Code 72) may obtain 3.5 times its average monthly payroll.

The second round of PPP loans are capped at $2 million per borrower; whereas, the first-time borrowers remain capped at $10 million.

Enhancements to the PPP

Expanded forgivable expenses, including:

  • Operational Expenditures: software and cloud computing service payments used to facilitate, without limitation, business operations, service or product delivery, payroll, processing, billing, accounting, inventory, and human resource functions.
  • Supplier Costs: payments to suppliers of goods that are essential to operations at the time made pursuant to an order or contract in effect prior to the covered period.
  • Property Damage: costs related to any public disturbances that occurred in 2020, to the extent not covered by insurance or other compensation.
  • Worker Protection Costs: costs related to compliance with regulations issues by CDC, HHS, OSHA or any state or local government authority after March 1, 2020 and ending on the date when the national emergency declared by the president related to Covid-19 safety measures expires.

Additional Notable Updates

  • Expenses paid with proceeds of PPP loans are deductible for income tax purposes, a change from prior IRS rules. This may be the most significant change for many businesses.
  • Borrowers may self-elect a covered period between 8 and 24 weeks from receipt of the PPP loan.
  • Repealed the requirement that borrowers must deduct the $10,000 Economic Injury Disaster Loan advance amount from the forgivable amount of the PPP loan.
PPP Loan Proceeds

A business whose PPP loan is forgiven is not required to include the amount forgiven in gross income. Also, tax deductions are permitted for otherwise deductible expenses paid using the proceeds of a forgiven PPP loan, and there is no corresponding reduction in the basis of business assets. Therefore any forgiven PPP loan is effectively tax-exempt income.

Other Provisions
  • Employers who deferred withholding of the employee payroll taxes under the presidential memorandum dated August 8, 2020 now have until December 31, 2021 to arrange for withholding from employees and repay the deferred amounts.
  • Businesses that receive CARES Act loan forgiveness are not required to include amounts forgiven in income and are permitted tax deductions for otherwise deductible expenses paid.
  • Employer tax credit for paid family and medical leave extended through 2025.
  • Employer may continue to pay up to $5,250 per employee toward an employee’s “eligible student loan repayments” and the payments will be excluded from employee’s income through 2025.
Business Meal Deduction

The Act increased the limit on deducting business meals, including takeout and delivery meals, provided by restaurants to fully deductible. This rule applies to expenses paid or incurred in 2021 and 2022. All other existing requirements continue to apply when you dine with current or prospective customers, clients, suppliers, employees, partners, and professional advisors. Thus, to be deductible:

  • The food and beverages cannot be lavish or extravagant under the circumstances; and
  • You or one of your employees must be present when the food or beverages are served.

If food or beverages are provided at an entertainment activity, either they must be purchased separately from the entertainment or their cost must be stated on a separate bill, invoice, or receipt. This is required because the entertainment, unlike the food and beverages, is nondeductible.

Impact on Labor & Employment

Unemployment Benefits

The Act extended existing pandemic unemployment insurance programs under the CARES Act, the Pandemic Unemployment Assistance program, and the Pandemic Emergency Unemployment Compensation program. The Act provided an additional 13 weeks of benefits to those individuals who have exhausted their regular state benefits in addition to a supplemental federal unemployment benefit of $300 per week for up to 10 weeks to March 14, 2021. Additionally, the Act added program integrity provisions that require documentation of earnings and employment and compelled states to have processes for verifying an applicant’s identity to combat fraud and abuse in the unemployment programs.

Paid Sick Leave

The Act provides a tax credit to support employers that offer paid sick leave to employees. The Families First Coronavirus Response Act is no longer required as of December 31, 2020, but if covered employers voluntarily provide these benefits through March 31, 2021, those employers are eligible to take the tax credit for the leave. Also, the Act extended refundable payroll tax credits and employee eligibility for the paid sick and family leave to March 2021.

Next Steps

When it comes to the Coronavirus Response and Relief Supplemental Appropriations Act, there are a lot of changes for employers and business owners to know. It is important to understand all your options and develop a strategy to maximize your benefits. Epiphany Law attorneys will partner with you to create a plan that will help your business efficiently and effectively achieve your desired results. You can contact us here.

When to Update Your Company’s COVID-19 Policy

Keeping current with CDC guidelines and vaccination roll-out

In recent weeks, CDC recommendations regarding the length of quarantines have changed. And, as the COVID-19 vaccine becomes available to the public, employers may need to review and update their policies to better reflect the current situation. The below are some of the top questions employers are asking regarding how they can better protect their employees, customers and their business.

Q: Can I mandate employees receive the COVID-19 vaccine?

A: This answer may vary by industry, location and whether your workforce is unionized. Currently, many health care companies have already mandated employees receive annual flu shots. Both the Occupational Safety and Health Administration (OSHA) and the U.S. Equal Employment Opportunity Commission (EEOC) have determined these policies to be permissible for health care workers. However, both OSHA and EEOC require employers to consider granting accommodations to employees who refuse to vaccinate due to a medical condition, disability or even religious belief.

Employers with unionized workforces will also need to consider the National Labor Relations Act as well as any labor contract obligations. If there is no collective bargaining agreement that already exists regarding mandatory vaccination, the employer may be required to first bargain to agreement before a mandatory vaccination policy can be enacted.

Business owners and employers should also ensure their policies are compliant with any pertinent state laws. Currently there is no Wisconsin state law prohibiting employers from requiring employees get vaccinated as a condition of employment. However, some states do permit employees to opt out.

In addition to the legalities of the issue, employers need to consider practical matters such as how a vaccine requirement could impact recruitment and retention. According to recent Gallup polling, 42 percent of U.S. adults say they are hesitant about getting the COVID-19 vaccine.

Q: If employees do get vaccinated, will they still need to comply with a mask mandate?

A: State mask mandates will most likely stay in effect while vaccine administration is rolled out. Most states now require face masks to slow and reduce the spread of COVID-19.  OSHA has offered guidance and generally recommends that employers encourage employees to wear face coverings while in the workplace. Until OSHA and CDC guidance changes, employers should stay compliant with current recommendations. It’s important the company’s COVID-19 policy demonstrates a proactive approach to protecting employees’ health and preventing outbreaks. Since March, there have been over 1,400 lawsuits filed against employers due to alleged coronavirus labor and employment violations. One of the most effective ways to protect both your employees and your business is to develop, document and enforce policies that are consistent with OSHA and CDC guidance.

Q: Now that the CDC has shortened their quarantine timeline, can I adjust our company’s COVID policy accordingly?

A: Employers now have more options for quarantine guidelines, however symptoms must continue to be monitored through Day 14. On December 2, the Centers for Disease Control and Prevention announced new quarantine guidelines for employers. Previously, the CDC had advised a standard 14-day quarantine for employees who came into close contact with individuals who tested positive or were presumed positive. The new guidelines now offer the following alternatives.

  • Quarantine can end after Day 10 without testing and no symptoms have been reported during daily monitoring.
  • Quarantine can end after Day 7 IF a diagnostic specimen tests negative and if no symptoms were reported during daily monitoring. The specimen may be collected and tested within 48 hours before the time of planned quarantine discontinuation, but cannot be discontinued earlier than after Day 7.

To ensure your company’s COVID-19 policy meets your legal responsibility and limits your risk of litigation, it’s a good idea to reach out to legal counsel. Together, you can evaluate your options and you’ll stay up-to-date with the rapid changes from guidance at local, state and national level.

EU Privacy Shield

EU Court of Justice Nixes the EU-U.S. Privacy Shield Framework

What is the EU – U.S. Privacy Shield?

The European Union (EU) enacted the General Data Protection Regulation (GDPR) in April 2016 and it went into effect in May 2018. The GDPR protects and covers European Economic Area (EEA) member state citizen personal data. The GDPR largely regulates the transfer of personal data to third countries. One method of effectuating a compliant transfer was the EU-U.S. Privacy Shield (Privacy Shield). The Privacy Shield permitted countries with less stringent data protection laws than the European Union (EU), such as the United States, to create a safe harbor within its “inadequate” law. On July 16, 2020, the EU Court of Justice (ECJ) declared the Privacy Shield invalid. The ECJ maintained that the Privacy Shield was not “essentially equivalent” to EEA-member state data transfer mechanisms.

Why does the Privacy Shield matter to U.S. companies?

  • Personal data is everywhere – If you are a U.S. company engaged in commerce, there is a very good chance that day-to-day transfers of consumer personal data is somehow implicated. Any personal data on an EU citizen—regardless of where they live—is subject to these laws.
  • Vendor and contractor policy – You may not readily receive and process the personal data of EEA-member state citizens, but chances are your vendors or contractors do. What is more—one of your vendors or contractors may have been relying on the now invalidated Privacy Shield framework to comply with the handling of consumer data. Additionally, they may ask you to comply with their policy.
  • Compliance still necessary – Trans-Atlantic business must go on. Companies that control and process data need to hardwire data privacy and protection measures into virtually every business process they implement under the GDPR. Moreover, the DOC’s International Trade Administration (ITA), the agency tasked with administration of the Privacy Shield framework, maintains the ECJ’s opinion does not discharge participants of their responsibility to comply with the Privacy Shield’s mandates.
  • State requirements – Even if you are certain that your data flows are not transnational in nature, states, such as California with its Consumer Privacy Act, have implemented measures giving consumers rights to their personal data, such disclosure, deletion, or the ability to opt out of third-party data sharing. These laws are very similar to EU laws.
  • Penalties – The penalties associated with non-compliance with the GDPR carry a steep penalty of up to 20 million euros ($23.6 million) or 4% of your company’s annual global revenue, whichever is higher.

How to ensure my data transfer and privacy policies are up to date?

Companies that process and control data—virtually every consumer facing business—must have the ability to readily identify a consumer’s personal data, as well as alert consumers of their rights in the data. What is more, a transnational company controlling and processing personal data must: possess the legal right to process the data, notify the data subject of what other entities hold their data, and “forget” personal data under GDPR. Make sure your compliance with data privacy laws is up to date.

 

Does Your Company Have a Return to Work Strategy?

Article co-written and researched by attorneys Tracy Melvin and Alexis Merbach.

Many businesses are still figuring out how to manage HR issues in a pandemic. They are following the changes in every order and stimulus/relief package passed, and effectively rolling with the punches. Among the confusion and uncertainty, they have found ways to persevere. However, as states and cities now start to reopen—in turn allowing businesses to do the same—there is one question that remains…is the business prepared to get back to work?

There are several policies to consider as a business reopens. Some policies may not be new to the organization and likely are already be in place. Regardless, now is a great time to dust them off. Having correct policy documentation in place is crucial to ensuring the organization is proactively approaching and appropriately responding to the impact of COVID-19.

Businesses should draft or update the following policies as they work to reopen their doors:
  • Telework – Have a clear policy that outlines expectations for remote workers.
  • Anti-harassment & discrimination – There have already been many stories of employees being treated differently because they have or suspect they may have contracted COVID-19. Ensuring anti-harassment and discrimination policies are in place can set expectations and help minimize any potential risk.
  • Reasonable accommodations – Have a policy in place detailing how you will engage in an interactive reasonable accommodation process.
  • Overtime – To combat any wage & hour issues, employers may want to consider a policy requiring overtime to be pre-approved.
  • “Off the Clock” Work – Considering some employees may still be furloughed, laid off, or on reduced-hour schedules, implementing an “off the clock” policy makes it clear that employees are prohibited from checking e-mail, making phone calls, etc. for free. Employees must be compensated for all time worked.
  • Safety – Document workplace safety measures, including policies for proper cleaning, protective equipment, and social distancing measures, that have been put in place to prevent spread of the virus.
  • Health & wellness – Draft policies related to any health questionnaire or temperature check process, including that any health information will be properly protected.
  • Leave – Consider implementing a temporary leave request policy related to the two paid leaves under Families First Coronavirus Response Act.

Drafting or updated workplace policies is a great first step; however, businesses need to ensure effective implementation of these new or updated policies.

There are a few ways to do so effectively:
  • Train supervisors and managers on current, updated, and new policies. This will ensure consistency across the management team and present a united front to employees.
  • Consider cross-training your workforce to accommodate employee absences.
  • Any new or updated policies should be communicated to employees to ensure compliance throughout the organization. Distribute current and updated policies, have employees sign an acknowledgement that they have reviewed, understand, and will adhere to the policies, and continue communication about policies regularly.

To learn more, make sure to watch the webinar below. If you have questions or would like assistance developing a strategy to reopen,  contact us here. 

Strategies for Maximizing the Value of Your Business

How will COVID-19 impact the M&A Market?

Whether you’re thinking about selling your business now or in the future, it’s critical to understand how a prospective acquirer might value your company, and how you can influence that valuation. Even if you’re not thinking of selling today, most business owners will receive one or more unsolicited offers at some point…and you should be prepared. Rob Macklin, Partner at Epiphany Law, and Corey Vanderpoel, Managing Director and Owner at Taureau Group, will discuss strategies you can use in order to maximize the value of your business from both legal and investment banking perspectives, and importantly, will discuss the impacts of COVID-19 on the M&A environment.

• Operational, financial and legal preparation for a business
• The transaction process
• Due diligence and legal imperatives
• Shareholder tax and estate preparation
• Assembling a team of advisors

You can watch the complete webinar here.

Understanding Recent Guidance from the EEOC

As you know, public health guidelines designed to help communities and employers navigate the COVID-19 pandemic have been changing almost daily. New guidance issued from the Equal Employment Opportunity Commission (EEOC) addresses some of the issues that employers are facing. Here are answers from the EEOC on a few common questions employers may have:

If an employee calls in sick, how much information may an employer ask request from that employee?

Employers may ask employees is they are experiencing COVID-19 symptoms, such as fever, chills, cough, shortness of breath, or sore throat. Employers must remember that all information about the employee illness needs to be kept confidential.

May an employee take body temperatures of employees during this pandemic?

Generally, this would be considered a medical examination; however, because health authorities want to control the spread of COVID-19, employers may measure employees’ body temperature. Employers should ensure they are consistent in this practice across the workforce.

May an employer to require employees to stay home if they have COVID-19 symptoms?

Yes. The CDC states that employees who with symptoms of COVID-19 should leave the workplace.

Once an employee returns to work, may an employer require a doctor’s note certifying fitness for duty?

Yes. Employers may need to get creative in what they accept for documentation, as doctors and other health care professionals may be too busy during a pandemic outbreak to provide fitness-for-duty documentation.

As always, we will continue to provide you with factual updates on a regular basis throughout this pandemic. We will be hosting another webinar on Monday, March 23, 2020.

 

About the Author:

Tracy Melvin serves as a human resources business consultant with Epiphany Law. Tracy is an experienced professional having spent over ten years helping a variety of companies implement and manage complex HR strategies. In her current role, Tracy provides HR consultation to business executives and owners that drive results. Tracy drafts employee handbooks, policies, procedures, employment contracts, executive compensation plans and agreements to protect the company’s interests. She also assists business leaders by conducting HR audits to ensure compliance with local, state and federal employment and labor laws.

Tracy Melvin

Labor Law: What You Need to Know About the Latest Changes

On January 12, 2020 the U.S. Department of Labor (“DOL”) released its long-awaited final rule  updating its regulations regarding joint-employer status under the Fair Labor Standards Act (“FLSA”). The FLSA’s joint-employer regulations had not been substantively amended in over sixty years. This new rule becomes effective March 16, 2020.

The final rule gives employers greater guidance and clarity when determining if a joint-employer relationship exists. The DOL has now adopted a four-factor balancing test to evaluate whether the purported is a joint employer. This test assesses whether the employer:

  • Hires or fires the employee;
  • Supervises and controls the employee’s work schedule or conditions of employment to a substantial degree;
  • Determines the employee’s rate and method of payment; and
  • Maintains the employee’s employment records.

It is important to note, that no single factor is dispositive in determining joint-employer status, but instead the factors are weighted based on the facts of each case. The final rule states that to be a joint employer under the FLSA, the other actor must actually exercise – directly or indirectly – one or more of the four factors.

The final rule includes a number of examples illustrating the application of the four-factor test, providing for practical guidance to employers who may have joint employment concerns based on their company structure and business relationships with other companies.

In addition to the DOL issuing its final rule on this topic, the National Labor Relations Board (“NLRB”) released a final rule on February 26, 2020 setting forth standards for joint-employer status under the National Labor Relations Act. The NLRB’s final rule will be effective April 27, 2020.

In light of these final rules, it is important for employers to seek counsel in any situation where joint employment is possible.

All employers need to make sure their payroll practices are compliant. Doing so will protect your business from costly lawsuits. If you would like help reviewing your employee classifications, or if you have any other employment law questions, you can contact us here. 

Is Your Health Care Practice Socially Savvy?

Health care companies are operating in a technology-driven world. Patients expect access to your practice through technology, including social media. Today, over 94% of hospitals have an active Facebook page, and an increasing amount also use additional social media platforms to reach their current and potential patients. A practice’s lack of or unsavvy social media presence may even have patients looking for a provider with a more robust online presence.

Why your social strategy matters

Ten years ago, patients would turn directly to their physician for medical advice. Today, they turn to the internet for online research and advice through their social networks. Research shows, 73% of millennials use the internet as their primary, even only, source of health information, and nearly half of adults in our country rely on the internet for healthcare decision making. Having a health care social media strategy is vital, and few simple steps can help physicians better reach and engage with their patients, ultimately improving quality of care and even decreasing readmission rates.

  • Identify your goals and target patient audience.
  • Set a time commitment and decide how often you’ll post.
  • Partner with your staff to educate customers with multimedia content. This is an opportunity to answer common patient questions, share relevant health alerts, provide accurate information in an area inundated by inaccurate and often risky content, and strengthen your brand by creating trust.
  • Engage in conversations around healthcare policy and practice issues, allowing your practice to proactively manage patient expectations and relationships.
  • Engage with influencers to share your content.
How to create an effective and compliant social strategy

An important consideration in building a socially savvy practice, is utilizing employees to expand your social media presence. But with this, comes the need to protect patient privacy. Developing a solid social media policy will ensure your staff understands the dos and don’ts as it relates to using technology to communicate about work. This policy should cover both materials posted on the practice’s social media platforms as well as employees use of personal social media related to work-related posts. Such policies ensure compliance with HIPPA and HITECH and safeguard protected health information (PHI) and confidential business information (e.g. vendor agreements, marketing plans, employee files, etc.). And then, don’t forget, you must balance all of this with the employees legally protected rights under the National Labor Relations Act (NLRA).

Build out a clear and concise social media policy, having a trusted attorney review. A well-crafted social policy can limit the risks associated with employee electronic media use, while allowing health care providers to take advantage of technology. This policy should include:

    • What the policy applies to (e.g. work-related posts only, or also personal posts related to the medical practice)
    • Technology covered – list applicable social media sites while being broad enough to allow for changes in technology
    • Unacceptable activities – inform employees what social media activities would result in a violation of the policy (e.g. giving specific medical advice, sharing PHI, acknowledging a physician-patient relationship, revealing confidential business information, etc.)
    • Compliance and enforcement – outline how the organization will ensure compliance with the policy and consequences of a violation.

Once your policy is drafted, you’ll also need to: 

  • Develop employee training on the topic.
  • Make sure all employees receive, read, understand and sign off on the policy.
  • Train employees, giving specific examples and hypotheticals.
  • Enforce the policy consistently and fairly, thoroughly documenting any violations and disciplinary action.
  • Provide annual refresher training.
  • Update the policy when necessary, as social media, labor law, and HIPPA regulations are all subject to change.

Social media is an important tool for your practice. It’s essential that you understand how to leverage the benefits while still mitigating the risks. Having a social media policy in your employee handbook is an important first step. For questions or concerns about your handbook and social media policy, you can always email us here or call us at 920-996-1000.

 

More Educational Opportunities for Health Care Practices

Lunch and Learn – Complying with DOL Laws

The health care field has been under strict scrutiny about their payroll practices. The Department of Labor (DOL) announced an updated overtime and salary level threshold rule that took effect on January 1, 2020. To protect against the threat of litigation, it’s imperative that health care companies take a pro-active approach.  Join us for a free lunch and learn. We’ll review the changes to the law, share best practices and answer your questions about how you can protect your practice.

Wednesday, March 4 2020 at 12 PM – 1 PM 

Epiphany Law, 2800 East Enterprise Ave, Appleton WI 54913

Register Now

Tax Preparedness in a Sale of a Private Company

I recently had the opportunity to participate in a webcast with four amazing experts on the topic of Business and Tax Preparedness in a Sale of a Private Company.  My fellow experts, Louis Vlahos, Cynthia Romano, Vanita Spaulding and Alex Kasdan were specialists in investment banking, business valuation, restructuring and process improvement and tax law – I was asked on as the corporate law expert.

The focus of the program was how to maximize the value of your business in a sale context.  What was amazing to me was the remarkable underlying consistency of all of the experts in one key area – the time to start preparing for a sale is long before an offer comes along.

Each expert, from the tax lawyer to the process improvement expert was convinced that the only real way to maximize your businesses value was to conduct your business with the ultimate end goal – a transition – in mind.  Whether you are planning to sell your business today or not, there’s a good chance that you’ll get an unsolicited offer in the future – and the future might be sooner than you think.  So it’s critical to ensure that your business is ready to transact, even if you don’t have present plans.  For certain issues, like tax elections, the IRS might look back five years or more in time before deciding whether to honor your election.  For other critical items – like succession planning and talent development – you’ll need a long time to train your team to be ready to run your business.  And from a corporate law perspective, you certainly want to avoid contracts that might pay dividends today, but lock you into a bad deal for the future when a potential buyer comes along.

How then, can you make your company completely “transaction ready”?  While tax preparedness certainly plays a part, that’s a much longer question than we have time for here. There are a number of things to consider and explore.  So, watch out for an upcoming article with some ideas on how to get started with that. In the meantime, you can check out the full webcast here.

You can also contact us with any questions you may have. Our office phone number is 920-996-0000 or you can email us here.