M&A Articles

Our partners have written a series of articles available for free download.

  • From: "Exit Doors are wide open for Business Owners"
    In spite of some signs of an expected slow down in the overall economy in 2008, the M&A market looks to continue strong. The exit doors are opening wider for mid-market sized businesses. <more>
  • From: "Ten Ways that Make it Easy for the Buyer to Buy":
    In my twenty six years of selling businesses I continue to be amazed at how sellers unintentionally make the due-diligence process difficult for buyers. The buyer needs to make sure that what the seller is representing for sale is truly what is being acquired. <more>
  • From: "Why Deals Fail to Close":

    You hit it off with an interested Buyer, you have accepted a letter of intent, and now you are going through due diligence. Without the assistance of an experienced Intermediary you may damage the good relationship you have with your Buyer and the deal will be jeopardized. Deals fail to close for many reasons. <more>


M&A Wisdom

  • Business was originated to produce happiness, not pile up millions - B.C. FORBES
  • Never promise more that you can Perform - PUBLILIUS SYRUS
  • All heiresses are beautiful - JOHN DRYDEN
  • If you do not risk anything, you risk even more - ERICA JONG
  • Therefore I revised my strategy and tried to buy good businesses at fair prices rather than fair businesses at good prices - WARREN BUFFET
  • Just as there are windows to start a company, then there are windows to cash out - LEO HELZEL
  • When you know its time to sell its probably too late to get the best price and terms - LEO HELZEL

For a free copy of The Ten Most Important Rules For Business Valuation, click here.

List of M&A Books, click here.

Glossary of Terms, click here.

Glossary of Financial Ratios, click here.


SUMMA Financial Group, Inc™ markets it companies Nationally and Internationally. As a regional firm in California, SUMMA Financial Group, INC™ can meet the requirements of clients worldwide. In addition to the direct efforts of SUMMA’s professional and support staff, SUMMA has strategic relationships with other firms and intermediaries.

The following affiliated offices give SUMMA Financial Group, Inc™ a presence in nearly every major market in North America.

  • Colorado Springs, Colorado
  • Denver, Colorado
  • Chicago, Illinois
  • Wichita, Kansas
  • Osterville, Massachusetts
  • Syracuse, New York
  • Cincinnati, Ohio
  • Tulsa, Oklahoma
  • Hamilton, Ontario
  • Austin, Texas
  • Dallas, Texas
  • Houston, Texas

Since 1985 the professionals at SUMMA Financial Group, INC™ have been involved in a variety of professional associations including as officers, instructors, and authors in these organizations.

Welcome to Summa Financial Group, Inc.™
Dealing exclusively in middle market companies with values of $2 Million to $75 Million.
We represent Manufacturing, Business-to-Business Services, Distribution, Low to high tech companies and other various niche industries. 1

The M&A Advantage Newsletter
Review December 2015 issue:

Highlights include:

  • December 2015
    Conservation Easement
    The Tax Court held that an examiner properly assigned penalties. In the case there was a husband and wife (taxpayers), an examiner, and a plot of land involved. In 2007, the taxpayers donated a parcel of land with the intention of taking advantage of a charitable deduction under a conservation reserve program or CRP. The land was donated to the Colorado Natural Land Trust. They claimed the value of the land was 1.4 million dollars and took part of the deduction in 2007. The remainder was rolled over in 2008, 2009, and 2010 when it was finally used up.
    In 2011 the taxpayers were sent a report that the donation did not satisfy the legal requirements for a charitable deduction and also, the value of the land was not $1.4 million. The actual value was more like zero.
    However, by trial all the facts had been stipulated and the value of the parcel was stipulated at $80,000. What was at issue was whether the 40% penalty was appropriate given that the initial determination done by the examiner was for 20%. The court found that the Internal Revenue Code Section 6662(h) did not require the 40% determination on the “initial determination”. The verbiage was common language and not a statutory requirement.
    Editor’s Comment:¬† This was a remarkable job by an attorney on his client’s behalf and I believe this case will go further. Recently, the penalties that the IRS can dish out are much harsher than what they previously had and taxpayer’s need a victory. On the other hand, this whole thing could have been avoided had the taxpayers gotten a fair appraisal and worked within the letter of the law to get the deduction. We will see where this goes.

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