Due diligence

Which documents to request from a seller

The seven documents to ask for, why a P&L on its own can't be verified, why the tax return is the most useful one, and why you should ask early.

5 min read

How to verify a seller's reported earnings

Rebuild SDE from the tax return, reconcile the P&L to bank deposits, test every add-back, read three years, and put the gap in dollars. Five checks, in the order that finds the most.

7 min read