BaldwinClarke, Author at Independent Wealth + Business Advisory

Author: BaldwinClarke

#Finterms: Massachusetts Millionaire’s Tax

The Massachusetts millionaire’s tax is a 4% surtax on taxable income over $1,000,000. The tax became effective in 2023 and made Massachusetts one of the highest taxed states in the nation. Connecticut, Maine, New Jersey, New York, and Washington D.C. all have similar surtaxes.

#Finterms: What Methods are Used to Determine the Value of a Business?

In determining the economic value of an entity, a business valuation typically considers three main approaches: 1) an asset-based approach 2) an income approach, and 3) a market approach. Depending on the profile and condition of the business being valued, one or all three of these approaches can be employed, but in the case of a profitable going concern business,...

#Finterms: Bank Liquidity

Bank liquidity is a risk measurement involving the ability to meet near-term financial commitments, such as to pay bills, at a reasonable cost. More specifically, this closely managed metric measures of a bank's ability to quickly convert its assets into cash in order to satisfy withdrawals from depositors and other fund providers.

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#Finterms: Massachusetts Millionaire’s Tax

#Finterms: What Methods are Used to Determine the Value of a Business?

#Finterms: Bank Liquidity