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Small business owners may be able to hire their minor children this summer and get tax breaks and other nontax benefits. While eligible owners can save on payroll taxes and lower some costs, their kids also benefit. They gain on-the-job experience, develop practical skills and learn how to manage money. A sidebar notes that earned income can also help young workers get an early start on funding a retirement plan.

With age comes wisdom and potentially some valuable federal income tax breaks that aren't available to younger taxpayers. Specifically, people over age 50 might consider making deductible catch-up contributions to their retirement accounts. And they might itemize deductions, rather than claim the standard deduction, if their medical bills are over the income-based threshold. Here are the details.

Does your business have a formal process for approving purchase orders? A standardized process can help promote efficient business operations and informed decision-making.

In a business valuation, the company’s books and records may provide additional clues into how much the owners believe the business is worth. Here are five lesser-known indicators of value experts consider.

Valuing a business takes time and money. Sometimes a limited-scope “calculation of value” may be appropriate. But taking shortcuts can be costly in other situations. Here’s information to help you get it right.

The Family Business Alliance estimates that roughly 80% to 90% of all businesses in North America are family owned. But most of them aren’t run like public companies. Here’s how business valuation pros adjust their methods to account for the differences.

Are you involved in commercial litigation, such as a breach of contract or patent infringement claim? If so, it’s critical to understand the differences between lost profits and diminished business value.

Is your business contemplating a merger or acquisition to increase market share, compensate for operational weaknesses or acquire talented workers? A business valuator can help you avoid potential pitfalls.

Is your company about to embark on a major transaction, such as a merger, management buyout or stock repurchase? Here’s how a business valuator can help safeguard the deal.

Cost segregation studies may allow a manufacturer to accelerate depreciation deductions on certain items, thereby reducing current taxes and boosting cash flow. Here’s how.

The IRS has issued final regulations regarding the Advanced Manufacturing Investment Credit (often referred to as the “Sec. 48D credit”). Here’s what manufacturers need to know.

There are many ways to increase your manufacturing capacity without expanding your plant. Here are eight.