MBBA - Michigan Business Brokers Association

 

MBBA

Michigan Business Brokers Association
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Rhoades McKee

Metro Chapter Monthly Meeting May - NEW DATE

NOTE DATE CHANGE

What: MBBA Metro Meeting & Lunch

When: Thurs., May 12th, 10:30 - 1:00;.

Where: BJ’s Restaurant and Brewhouse
19470 Haggerty Rd.
Livonia, MI 48152

Agenda: This month is a guest, Tim Cowley, CPA. His presentation will touch on MI Legislature passed at the end of 2021 - a SALT Deduction workaround which can be utilized to bypass the $10,000 standard deduction limit enacted in the 2018 tax changes. We will discuss this briefly and identify who may benefit from electing and paying the new FTE tax.

The second part will focus on business valuation discussion. A business valuation engagement that a CPA would perform may be quite different from an engagement that a broker or M&A person would perform due to professional standard requirements, assumptions related to the standard of value utilized, and other items. We will discuss the differences between the M&A world and the CPA valuation including types of engagements and reporting requirements, standards of value and rules for different purposes, what information a CPA may utilize versus an M&A person, and why using a valuation report from a different purpose than a potential sale could cause an over/underpricing of the business for a transaction.

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