Date: Wednesday, March 13, 2013
Time: 10:00am-11:40am PT / 1:00pm-2:40pm ET Format: A BVR Webinar Earn 2 CPE credits Add this event to your calendar
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Why You Should Attend In the November, 2012 issue of BVUpdate™, expert Marc Bello wrote of the history and implication of Bernier v. Bernier, a now 10-year old divorce case involving the valuation of two S corporations. His analysis concluded "After 10 years of deliberations, imputing income taxes to determine an equitable value of an S corp for divorce in Massachusetts remains unresolved. Although conceptual guidance, including the facts that income taxes need to be paid from S corp profits and S corps do not pay double taxation on dividends, arise throughout the Bernier hearings, the application of these concepts appears to get lost in translation."
In this webinar, Bello joins BVR to discuss the long, winding history of this case, and its legacy with regard to S corp valuation.
Agenda
History and background of the case
Background and facts
Standard of value
Premise of value
Level of value
Bernier and tax affecting
How the Massachusetts Supreme Judicial Court ruled
Incorporating Delaware Open MRI Radiology Associates v. Kessler
2012 appeals decision
Discounts – Love'm or Leave'm
Discounts and level of value
Analysis of a key man discount
Standard of value
Impact Bernier has had on future decisions
Palmerino v. Palmerino
Caveney v. Caveney
Learning Objectives
Understand the history of Bernier and what its path through the courts implies for its findings
Learn how current case law is affecting business valuations relating to divorce
Understand judicial precedent being set by Bernier
Evaluate how the findings of Bernier will affect S Corp and other valuation challenges
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Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.
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Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.
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CPE Information
Prerequisites: Knowledge of Business Valuation Program Level: Advanced Preparation Required: None Delivery Method: Group Internet-Based Recommended CPE: 2 Credit Hours (Specialized Knowledge & Applications)
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