Other than the possibility of changing corporate tax rates, there is “nothing of earth-shattering importance” in terms of tax, estate, and regulatory changes expected from the Biden administration—for now, anyway—according to a panel of valuation experts on a recent BVR webinar. However, be aware that tax provisions will “start to sunset” during the new presidency, such as the 100% bonus depreciation tax break, which will start to phase out in 2023. Also watch for state tax changes, such as in New York, where tax rates may increase dramatically, which would potentially have an impact on business valuation.
The panel also discussed valuation issues with special purpose acquisition companies (SPACs), cryptocurrency, rumors of changes to fair value rules, virtual testimony, and how the pandemic has impacted our working lives. Moderated by Jay E. Fishman (Financial Research Associates), the panel members were: Raymond Rath (GlobalView Advisors), Neil Beaton (Alvarez & Marsal), and Stacy Collins (Financial Research Associates). A recording of the webinar, Power Panel: Live Expert Answers for Today’s Tough BV Questions, is available if you click here.
Please let us know
if you have any comments about this article or enhancements you would like to see.