Corrigan Krause is a mid-size CPA firm located in Westlake, Ohio, specialising in servicing
closely-held businesses since 1989.
Subsequently the Court held "[t]he contraceptive mandate, as applied to
closely-held corporations, violates RFRA."
The hearing will examine how the tax code affects
closely-held businesses in particular, and how tax reform might improve their ability to grow and create jobs.
rejecting] the majority view that equates
closely-held corporations with statutory close corporations ...
She has more than 20 years of public accounting experience and specializes in providing tax planning, research and compliance services to
closely-held businesses and their owners.
The experience at the
closely-held cement manufacture was much different.
Even though the new standard sets forth a disclosure set for publicly traded companies and a separate, reduced disclosure set for
closely-held companies, these smaller companies may provide the more detailed disclosures of publicly traded companies if they so desire.
* The NFIB also was pushing for the following tax-related goals: eliminating estate taxes for
closely-held businesses; raising the expensing limit from $17,500 to $100,000 (allowing businesses to fully deduct the first $100,000 they invest in equipment in the year it is purchased) to grant tax relief, increase cash flow and encourage investment; clarifying the independent contractor definition; relaxation of the rules for home office deduction; and simplification of the pension system.
Milton Gelman uses the purchases of letter stock by closed-end investment companies to estimate an appropriate discount for lack of marketability of closely held common shares in "An Economist-Financial Analyst's Approach to Valuing Stock of a
Closely-Held Company."(5) In a study of four funds that specialize in restricted securities investments from 1968 through 1970, Gelman finds both a mean and median discount from market value of 33% for letter stock purchases from 89 publicly traded companies.
M's ownership of P represents less than 50% of the value of the beneficial interest in P and, therefore viewed alone, is insufficient to make P a
closely-held partnership.
Gordon provides audit, compilation, review, tax accounting and miscellaneous consulting services to not-for-profit organizations and
closely-held businesses including S-corporations, limited Liability companies, partnerships, C-corporations and sole proprietors.
"This 'primary and unconditional obligation' standard applies to all redemptions, including those involving stock of
closely-held corporations by spouses or former spouses." (8)
Keith Schiller, an attorney with Schofield and Schiller, a Walnut Creek-based estate planning firm, and a supporter of estate tax simplification, but not repeal, doesn't buy this argument: "The argument of
closely-held businesses being liquidated because of estate tax is an inaccurate, misleading overstatement.
Accountants are often called upon by family-owned or
closely-held corporations for advice on a business sale or purchase.
Staying true to form, he says, "I'd like for MAST to remain a
closely-held regional firm with no more than a few dozen people.
