What Is the “Mansion Tax”? The New Jersey Mansion Tax is a transfer tax that applies when certain classifications of real estate are transferred for 1 million dollars or more. It is collected at closing and must be paid before the deed can be recorded. The tax applies to the sale/transfer of (a) residential homes,…
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Q&A: How To Make Your SPE Boring
What Is A Special Purpose Entity? Richard Colosimo: Mike, thanks for joining us today. In your career, you’ve been a consultant and a CFO and an M&A professional, and an investor and founder. Today, I’m hoping you can give us some advice for people entering into small investment partnerships, which typically take the form of…
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Fast Money, Slow Death: A Former CFO Explains the Real Cost of Merchant Cash Advances
The Hidden Danger of Fast Capital Rick Colosimo: Mike, you've worked as a CFO and led M&A for major companies. Now, you advise small business owners on financial and growth strategy. What’s one of the biggest mistakes you see when companies are under cash pressure? Mike Princi: One of the riskiest decisions I see is…
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Anti-Assignment Clauses in Commercial Contracts and Their Impact on Sale Transactions
In every sale transaction, among the initial considerations to be addressed is the impact of the potential structure of the transaction on the ongoing conduct of the business being sold. Generally speaking, determining the appropriate transaction structure is a function of tax, continuity of business operations and legal liability. Critical in that determination is understanding…
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