Being a business owner, prospective business owner, investor or executive comes with numerous challenges; some of which are financial, tax and value related. Ketel Thorstenson, LLP wants to help by offering insight and suggestions to understand and improve the bottom line of your clients’ or your business.
This Summer Lunch & Learn series will focus on business basics. Each lunch hour session will have a specific topic. The schedule and topics are as follows:
- July 8 Business Entities- Choose the right one
Selecting the right business framework (corporation, LLC or partnership) is critical to the success of any business. Determine the best fit for your or your clients’ emerging company.
- July 22 Business Valuation- Valuation Methodologies and Tests of Reasonableness
Valuation methodologies are used to determine the value of an entity. These methodologies take into consideration the specific risks, opportunities and overall nuances of the subject company that rules of thumb alone cannot capture. As such, we use rules of thumb and payback analyses as sanity checks for the overall value. Spend an hour with us to learn a few of the valuation basics and how sanity checks are used to test the reasonableness of the values derived by valuation methodologies.
- August 12 Schedule K-1- How to read and understand
Schedule K-1 is used as an appendix to several different types of business tax returns to report the proportionate share of the profits or losses of a corporation, partnership or limited liability company (LLC) that is allocated to shareholders, partners, or members, respectively. Learn how to read and interpret the reported income, deduction, and informational items on the Schedule K-1.
- August 26 Financial Statements- How to read and analyze
Financial statements are the report card of a business. Whether you are a new investor, a small business owner, a manager, or a non-profit director, you need to understand how to read, analyze, and create financial statements so you can get a full and accurate understanding of how much debt is owed, the income coming in each month, and the expenses going out the door.
Join us at our Rapid City office at 810 Quincy Street from noon – 1 p.m. for these sessions. There is a $5 fee, which includes lunch. Seating is limited. Please RSVP one week prior to the session to RSVP@ktllp.comor call 605-716-3284. Additional information can be found at www.ktllp.com.
Ketel Thorstenson, LLP, has over 50 CPA’s on staff and has been serving clients across the region since 1936. With offices in Rapid City, Spearfish, Custer, Belle Fourche SD and Williston, ND, the firm offers a variety of services including tax planning and return preparation, audit services, QuickBooks, bookkeeping, payroll, business valuation and estate planning. Additional information can be found at www.ktllp.com.