In any business transaction we need to be careful and take precautions before making a commitment. When buying a house we get a property inspection, when buying a car we arrange for the vehicle to be inspected before purchase. So naturally it is wise for us to have an expert check-out the business before buying.
There are many versions and definitions of profit. A Business Broker will provide potential buyers with financial records, who need to be aware of the subtle differences in terminology used to describe profit, so that they can understand the impact and implications of these differences.
If you have a Family Trust (also known as a Discretionary Trust) you likely need to distribute the income of a Trust through a resolution to beneficiaries, and must do so BEFORE the end of the financial year (June 30) for the resolution to be effective in determining who is to be assessed on the Trust’s income. If a Trustee fails to make a resolution to appoint the income of