Is there an easy formula for valuing a tutoring business so one partner can buy out the other?
My wife started an in-home tutoring brokerage with another partner. They want to dissolve the relationship, but my wife will maintain the business. The company has gross revenues of about $150,000 a year, but I don't know whether that is the actual value of the company.
Sound tax and accounting procedures are essential to growing a financially secure company. But multiple hiccups threaten the accuracy of these processes, elevating the risk of compliance penalties and reputational harm.