Acquisitions are generally accomplished in one of two ways: purchase of the business and assets of a company or purchase of the company stock. Purchase of the business and assets has one advantage: the buyer knows the liabilities that will accompany the purchase. Those liabilities not assumed remain with the seller. Thus in an asset deal, the buyer is not at risk with respect to liabilities that don’t surface, such as tax claims, tort Continue reading “Thinking About Buying a Business”
Williams v. Ketchikan Gateway Borough, Alaska Sup. Ct. S14513 (Feb. 15, 2013). (Holding your personal residence is not exempt from local taxation simply because you built your home with federal grant money.) Was the grant money taxable income in the year received? Are the forgiveness provisions of the repayment terms taxable forgiveness of indebtedness income? If not, should they be?
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Here is some background information on our attorney. He has practiced law in three states; and, calls Alaska home. He has solved many clients legal issues involving, business, tax, real property and litigation.