{"id":3890,"date":"2021-10-30T03:20:42","date_gmt":"2021-10-30T03:20:42","guid":{"rendered":""},"modified":"2024-03-26T17:09:06","modified_gmt":"2024-03-26T17:09:06","slug":"3-overlooked-areas-to-consider-when-buying-a-business","status":"publish","type":"post","link":"https:\/\/www.sunbeltcanada.com\/atlantic\/3-overlooked-areas-to-consider-when-buying-a-business\/","title":{"rendered":"3 Overlooked Areas to Consider When Buying a Business"},"content":{"rendered":"<div><img decoding=\"async\" width=\"900\" height=\"505\" src=\"https:\/\/deal-studio.com\/wp-content\/uploads\/2021\/10\/bigstock-Warsaw-Poland-November-392612147.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" srcset=\"https:\/\/5ue8d2wbsep3sc8fn2ah4r0a-wpengine.netdna-ssl.com\/wp-content\/uploads\/2021\/10\/bigstock-Warsaw-Poland-November-392612147.jpg 900w, https:\/\/5ue8d2wbsep3sc8fn2ah4r0a-wpengine.netdna-ssl.com\/wp-content\/uploads\/2021\/10\/bigstock-Warsaw-Poland-November-392612147-300x168.jpg 300w, https:\/\/5ue8d2wbsep3sc8fn2ah4r0a-wpengine.netdna-ssl.com\/wp-content\/uploads\/2021\/10\/bigstock-Warsaw-Poland-November-392612147-768x431.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\"><\/p>\n<p><span style=\"font-weight: 400;\">Without a doubt, there are a multitude of factors that go into buying a business. Since there are so many variables involved, it is easy to potentially neglect some important aspects. In this article, we will explore some of the key areas that can be overlooked when buying a business. Three areas in particular warrant special attention.<\/span><\/p>\n<p><b>#1 Legal Documents<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Upon first glance, it might seem obvious that all legal documents should be evaluated; however, many buyers forget that all legal documents are important and should be given weight. In short, there is no such thing as an irrelevant legal document, as one never knows what problems could be lurking within any given legal document.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For this reason, you\u2019ll want to carefully examine any legal document before making a purchase. The stakes are simply too high to not evaluate everything from trademarks and copyrights to leasing agreements.<\/span><\/p>\n<p><b>#2 W-2 and 1099 Forms<\/b><\/p>\n<p><span style=\"font-weight: 400;\">It is important to note whether or not 1099 forms were given out instead of W-2 forms. The reason is that the IRS has very specific rules regarding these forms. The last thing that any buyer of a business wants is to sign on the dotted line only to discover that there are problems with the IRS. Taking ownership of a new business only to learn that there are IRS issues is something that should clearly be avoided.<\/span><\/p>\n<p><b>#3 Retirement Plans<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Just as it is vital to look over all financial documents, including W-2 and 1099 forms, the same holds true to evaluating retirement plans. You shouldn\u2019t buy a business unless you know if the business\u2019s qualified and non-qualified retirement plans are completely up to date with the Department of Labor. A failure to properly evaluate a given company\u2019s retirement plans can be a very costly mistake.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ultimately, there are many potential topics that can be overlooked when buying a business. In this article, we outlined three areas, but in reality, there are many more. This fact underscores the tremendous importance of working closely with a business broker, as well as other trusted professionals, such as lawyers and accountants, in order to properly vet any business that you are considering. One of the key steps in buying any business is to take every possible step to perform due diligence. No business is a flawless enterprise, but a seasoned business broker or M&amp;A advisor can help you to successfully chart a path forward.<\/span><\/p>\n<p><a href=\"https:\/\/deal-studio.com\/3-overlooked-areas-to-consider-when-buying-a-business\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Copyright: Business Brokerage Press, Inc.<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.bigstockphoto.com\/image-392612147\/stock-photo-warsaw%2C-poland-1-november-2020-varso-place-office-building-facade-texture-of-a-glass-mirrored-off\"><span style=\"font-weight: 400;\">Grand Warszawski\/BigStock.com<\/span><\/a><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/deal-studio.com\/3-overlooked-areas-to-consider-when-buying-a-business\/\">3 Overlooked Areas to Consider When Buying a Business<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/deal-studio.com\/\">Deal Studio &#8211; Automate, accelerate and elevate your deal making<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Without a doubt, there are a multitude of factors that go into buying a business. Since there are so many variables involved, it is easy to potentially neglect some important aspects. In this article, we will explore some of the key areas that can be overlooked when buying a business. Three areas in particular warrant special attention. #1 Legal Documents Upon first glance, it might seem obvious that all legal documents should be evaluated; however, many buyers forget that all legal documents are important and should be given weight. In short, there is no such thing as an irrelevant legal\u2026<\/p>\n","protected":false},"author":105,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-3890","post","type-post","status-publish","format-standard","hentry","category-buyer-articles"],"blocksy_meta":"","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 Overlooked Areas to Consider When Buying a Business - Sunbelt Canada Atlantic<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Overlooked Areas to Consider When Buying a Business\" \/>\n<meta property=\"og:description\" content=\"Without a doubt, there are a multitude of factors that go into buying a business. Since there are so many variables involved, it is easy to potentially neglect some important aspects. In this article, we will explore some of the key areas that can be overlooked when buying a business. Three areas in particular warrant special attention. #1 Legal Documents Upon first glance, it might seem obvious that all legal documents should be evaluated; however, many buyers forget that all legal documents are important and should be given weight. 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