08/26/2010 - Items to Consider in Determining Whether to Sell Your Business in 2010 - Part 4 of 4
This is the fourth client alert in a series of four generally describing (i) the tax changes that will occur on January 1, 2011 and in later tax years as a result of the recently enacted health care legislation, (ii) some of the steps a business owner should consider taking in order to prepare his or her business for sale, (iii) the sale process, and (iv) several key factors to consider in this process in an effort to maximize the after-tax benefits to the owners and to help ensure a smooth sales process.

08/18/2010 - Items to Consider in Determining Whether to Sell Your Business in 2010 - Part 3 of 4
This is the third client alert in a series of four alerts generally describing (i) the tax changes that will occur on January 1, 2011 and in later tax years as a result of the recently enacted federal legislation, (ii) some of the steps a business owner should take in order to prepare his or her business for sale, (iii) the sale process, and (iv) several key factors to consider to maximize the net after-tax benefits to the owners and to help ensure a smooth sales process.

08/10/2010 - Items to Consider in Determining Whether to Sell Your Business in 2010 - Part 2 of 4
This alert is the second in a series of four generally describing (i) the tax changes that will occur on January 1, 2011 and in later tax years as a result of the recently enacted health care legislation, (ii) many of the steps a business owner should consider taking in order to prepare his or her business for sale, (iii) the sale process, and (iv) several key factors to consider in this process in an effort to maximize the after-tax benefits to the owners and to help ensure a smooth sales process.

08/03/2010 - Items to Consider in Determining Whether to Sell Your Business in 2010 - Part 1 of 4
This alert highlights the imminent changes to the tax laws in 2011 (e.g., the sunset of the Bush era tax cuts) and the changes that will arise in later tax years (e.g., tax provisions contained in certain parts of the recently enacted health care legislation) that may affect a decision to sell your business this year.

01/11/2010 - Estate, Gift, and Generation-Skipping Tax Confusion
The transfer tax situation for 2010 could hardly be more confusing. This alert summarizes issues related to making transfers to children or grandchildren in the current tax environment.

12/22/2009 - Year-End Limited Partnership/Limited Liability Company Administrative Considerations
Here is a compiled list of administrative issues for owners of Texas limited partnerships or limited liability companies (“LP/LLC”) to consider as December 31 approaches. Although some of these issues are not necessarily time-sensitive, year-end is a good time to consider whether your entity is in compliance with state and federal requirements.

12/17/2009 - Tax Planning for a Happy New Year
As the end of the year approaches, it is a good time to consider actions that may lower your tax bill this year and possibly next year as well. Year-end tax planning could be especially beneficial this year because several tax breaks will not be around next year unless Congress acts to extend them.

11/03/2009 - 2010 Conversion of a Traditional IRA to a Roth IRA
Currently, only taxpayers with modified adjusted gross income of $100,000 or less (who are not married filing separately) may convert a traditional IRA to a Roth IRA. Beginning January 1, 2010, the $100,000 limitation will be eliminated, and all taxpayers (including married taxpayers filing a separate return) may make such a conversion.

10/29/2009 - Estate Tax Uncertainty Continues
With nine weeks left in 2009, the fate of the federal estate tax remains unsettled. If Congress does not act before 2010, the estate tax will be repealed for one year (the gift tax continues in effect with the current $1,000,000 exemption), then the estate tax will be restored on January 1, 2011 with a $1,000,000 per taxpayer exemption and a top marginal rate of 55% (except for estates between $10,000,000 and about $20,000,000, with a top marginal rate of 60%).

10/27/2009 - Rollovers of 2009 Required Minimum Distributions
This alert provides updated information on requirements for 2009 required minimum distributions (RMDs) from IRAs and qualified defined contribution plans, including 401(k) plans.

07/31/2009 - Expectations for Buyers Changing in Today’s Market
Tom McCaffrey, a panelist at the recent “M&A Insight 2009” seminar for small to medium-sized Houston businesses, responds to questions about today's market.

06/18/2009 - Congressional Climate: Estate Tax Rates, Short-Term GRATs, and FLP Discounts
While we still have not seen a serious proposal to make major changes to the federal estate tax exemption and rates, pending proposals would prohibit short-term grantor retained annuity trusts (“GRATs”) and reduce or eliminate certain valuation discounts on transfers of minority interests in closely-held entities, such as family limited partnerships (“FLPs”).

05/14/2009 - M&A Insight 2009
Presentation slides from a mergers and acquisitions panel discussion featuring experts in the investing and financing, legal and accounting arenas.

04/16/2009 - Proposed Changes to Federal Estate Tax Laws
This alert from Haynes and Boone's Private Client Group lawyers provides an overview of two proposed changes to federal estate tax laws: the Baucus Bill and an amendment to President Obama's budget plan.

02/18/2009 - House Bill Attacks Valuation Discounts for Family Entities
Under current law, when an individual transfers a minority interest in a closely-held entity, appraisers often apply significant discounts to the value of the business because there is no readily available market to sell the interest and the owner has no control over the entity (including when and if distributions are made). An estate tax bill was recently introduced in the House of Representatives (HR 436, Pomeroy (D-ND)) that would restrict estate and gift tax benefits associated with closely-held entities, including family limited partnerships (“FLPs”).

Selling a Business--A View from the Seller's Side

Sale of the Business: Legal Issues From the Seller's Side