In re DFC Global Corp., 2016 Del. Ch. LEXIS 103 (July 8, 2016) A recent fair value decision from the Delaware Court of Chancery turned on the idea of uncertainty. Impending regulatory changes in key markets made it hard to predict the company’s future performance. Shaky forecasts raised doubts about the reliability of the results  Continue Reading »

You may have expertise in marketing, production and sales, like other business executives. Yet the short and long-term profitability of your Maine small business relies on strategic planning that looks at marketing, production and sales from several different angles. Even successful companies rely on outside business expertise to help with these issues and more. It’s best  Continue Reading »

As a Maine-based small business owner, you may be wondering how much can be deducted on your tax return for vehicle expenses. There are two basic ways to figure this out: The first is the standard mileage method. This provides a basic deduction for mileage and provides built-in depreciation. For 2017, the mileage rate is  Continue Reading »

Most Maine-based businesses today have valuable intellectual property. Valuing it can be difficult, as the most commonly applied valuation methods of market, income and cost, aren’t always effective when valuing intellectual property. For this reason, professional valuators often turn to the the royalty method for these unique assets. Most intellectual property generally falls into one  Continue Reading »

How to classify gains and losses from selling an asset in Maine is fairly straightforward most of the time. However, there are some gray areas that require a closer look at the facts and circumstances, especially when real estate is involved, as a couple of recent cases demonstrate. Why It Matters Distinguishing between capital and  Continue Reading »

In many parts of the country it’s already starting to feel like summer, and we hope Maine will get there shortly. But the forecast for Washington remains unclear as officials continue to discuss various tax-related issues. Regardless of what happens in Washington, don’t get stuck in a holding pattern yourself. Give some attention to business  Continue Reading »

Businesses in Maine and individuals can buy less expensive health insurance policies with high deductibles with Health Savings Accounts (HSAs). Contributions to the accounts are made on a pre-tax basis, and the money can accumulate year after year tax free. It can also be withdrawn tax free to pay for a variety of medical expenses  Continue Reading »

In re Horsehead Holding Corp., 2016 Bankr. LEXIS 3187 (May 2, 2016) Shareholders in a bankrupt company rarely get to form an equity committee that represents their interests during the reorganization proceedings. But, in an extraordinary bankruptcy case, the court, after hearing shareholders express concern over the valuations of the company, ordered the formation of  Continue Reading »

Recently, the U.S. Tax Court ruled that federal law doesn’t prohibit an employer from receiving information on whether workers paid tax on the income when the employer is looking reduce its tax liability on misclassified workers. Background on the Ruling In order to lower costs and administrative burdens, businesses often prefer to treat workers as independent  Continue Reading »

If you’re considering moving yourself or your business to Maine and making it your permanent home, you’ll want to make sure to establish that the new state is your place of legal residency (also known as your “domicile”) for state tax purposes. Otherwise, the old state could come after you for taxes after you’ve moved.  Continue Reading »