The decision in Estate of Gallagher v. Commissioner reads like a memorandum on the state of valuation and its favored methods of analysis. Covering the guideline public company method, income approaches, tax affecting, adjustments to financial statements, cash-flow projections, rates of return, subsequent events, and discounts for lack of marketability, Gallagher touches on nearly every point of the valuation process—and certainly every contentious issue within the valuation community. With this one decision, the court has seemingly entered the fray of nearly all valuation disputes, if not further asserting itself in those on which it had already weighed. To help make sense of this decision and what it means for the myriad of valuation techniques it addresses, BVR welcomes expert appraiser Chris Mercer and attorney L. Paul Hood Jr. for Estate of Gallagher: How the Court Sees the State of Business Valuation, the first installment of BVR's 2011 Online Tax Summit. Join Mercer and Hood for a thorough examination of this decision, its immediate impact, and what it means for the future of valuation.