What Does "Recast" Mean When Selling a Business?
The term “recast” simply means modifying your businesses’ financial information to reflect the actual value you receive from your business. Under normal circumstances, you file your taxes to minimize your tax exposure and include certain deductions in your financials. Because your financial information is geared towards limiting your taxes, as opposed to accurately reflecting the value of your business, your financials will not always accurately reflect how well your business does. Recasting your financials will demonstrate a better picture of your business to a potential business purchaser.
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