Aggressive add-backs don't raise your multiple. They torpedo your credibility in diligence.

Aggressive add-backs don't raise your multiple. They torpedo your credibility in diligence.
Every seller wants to add back the VA, the content budget, the "one-time" rebuild. Buyers see add-backs as the seller telling on themselves: this is what it actually costs to run.
— Owner salary back? Fine. The whole content team? You just exposed a fake margin
— One overreach makes the buyer re-audit EVERYTHING
— SDE built on fantasy add-backs collapses at LOI
A defensible $5k SDE outsells a padded $7k that unravels. Stop padding. Or tell me which add-back you'd die on.