Deborah L. Cohen writes for Reuters about Divorce and the impact on small businesses. Ms. Cohen points out that when small business owners go through a divorce, their attention is distracted from their business, causing financial impact on the business which may already be distressed due to the downturn in the economy.
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Calculating the value of a business can be one of the most important parts of a divorce because a closely-held business may be one of the most significant assets of the marital estate. The best approach to such valuation is to hire an independent business appraiser–a CPA with an Accredited in Business Valuation (ABV) credential or a certified professional, like a Certified Business Appraiser (CBA) or someone recognized by the American Society of Appraisers (ASA).
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When spouses own a business and they are getting divorced, the value of the business becomes a major focus of the division of property. Dallas Texas Board Certified Divorce Lawyer Michelle May O’Neil explains the concepts of valuation of a closely-held business entity that affect and even minimize the value of a closely-held business entity:
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