The Kernutt Stokes Advisor

What Owners Should (and Should Not) Do When a Company is Acquired

For some, starting a business becomes a lifelong endeavor that gets passed down to the next generation. For others, creating a business is only a temporary venture with a shorter-term hope of having it acquired by a more established corporation. What are some considerations for those whose company is in the process of acquisition? Considerations Before Acquisition: Financials Whether a…

Stock Market: Romp or Rout? The Markets Under a Trump Presidency

The biggest question on Wall Street is whether the Trump Presidency will be good (or bad) for investors. The year started with confidence as the Dow Jones Industrial Average overtook the 20,000 mark, but many questions remain on how President Trump will address international trade and monetary policies, and how he plans to spur job creation. Here’s a look at…

Lease Accounting

By: Matthew Diment Lease accounting has never been most people’s favorite accounting topic, but the Financial Accounting Standards Board (FASB) has recently upped the complexity with a new wrinkle to the existing treatment of leases.  While this new guidance is not applicable for a few more years, it is good to understand the implications it may have on your business…

Reconsidering C Corporations

Once considered a last resort for entity choice, C corporations deserve reconsideration, especially surrounding the dreaded double taxation issue. Double taxation refers to the two levels of taxation that C corporation income goes through. First, the income is taxed at the entity level and then again when the shareholder withdraws any earnings as a dividend. Current tax law puts the…

Is My Inheritance Taxable?

By John Mlynczyk So Aunt Sally passed away this year and you received word from the executor that you are a beneficiary of her estate.   Will your inheritance be taxable?  The short answer to this question is “it depends.”  Inherited assets may be subject to an estate level tax and they might be subject to income tax with respect to…

Kernutt Stokes Service Spotlight – Transportation Services

Within the logistics sector, trucking and transportation service providers can be overlooked as being “part of the process” rather than having their own set of needs. However, these companies have a number of considerations that are unique to the very service they provide, including fuel prices, multi-state tax issues, changing consumer demand, and technology. Because of these challenges, transportation company…

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