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Financial Planning / Tax Strategies
|Subject: Whew!||Date: 12/19/2012 5:06 PM|
|Author: Wradical||Number: 117165 of 121150|
We (our office's managing partner and I) just finished off the final financial projections for the bank, for a $3 million stock buyout transaction to be closed tomorrow, and we just got the contract, with the last details on the terms this morning.
And it's been like the fiscal cliff with these guys - two brothers who own the company, and one is buying out the other, with the expectation that his son will run it with him and carry on after him. They've been working on this since this summer, and it comes down to the wire, so the seller can pick up the gain this year, before rates go up.
This pending deal has been a stop-and-go thing all month, with one glitch in the negotiations after another, taking up a ridiculous amount of my time with emails, and nothing productive until last Friday when we gave them the first draft of the projections.
And some people think all we do is tax returns. Wait until they get our bill.
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