Business Valuation Update
- How to Review a Report’s Valuation Methodology
- Ideas for Solving Two Problems in the BV Profession
- How Do Your Firm’s Benefits Stack Up?
- Using Rule of Thumb Data to Uncover Cooked Books
Economy, Cannabis, Physician Pay, SPACs, and Expert Testimony Among the Hot Topics at the NJCPA BV Conference
Key takeaways from the 2021 New Jersey CPA Society’s Business Valuation and Litigation Services Conference are included.
Recap of the VSCPA Forensic and Valuation Virtual Conference
Topics at the Virginia CPAs’ event included COVID-19, the use of statistics for lost profits, key federal tax cases, personal goodwill, forensics, reasonable compensation, and cybercrime.
BVU News and Trends March 2018
A monthly roundup of key developments of interest to business valuation experts.
Some Key Takeaways From the AICPA FVS Conference
Over 1,100 attendees converged on Las Vegas for the AICPA Forensic and Valuation Services Conference 2015. BVU was there and heard some outstanding speakers and topics. Covered below are just a few of the takeaways. Future issues will cover these—and more.
BVU News and Trends February 2019
A monthly roundup of key developments of interest to business valuation experts.
Valuation Experts Give Initial Thoughts on Tax Reform
Valuation experts were asked for their initial impressions on what to consider when doing valuations under the Tax Cuts and Jobs Act. This will be an evolving discussion.
Frederick's of Hollywood Stock Not Aggregated for Valuation; 25% Blockage Discount Applied
Decedent, the widow of Frederick N. Mellinger, held Frederick's of Hollywood stock in three capacities: (1) as income beneficiary of a QTIP irrevocable marital trust her predeceased husband established under IRC § 2056(b)(7); (2) as beneficiary of a revocable trust that she established herself; and (3) 50 shares outright.
Option With No Bona Fide Business Purpose Not Relevant to FMV
This case deals with the valuation for estate tax purposes of four Housing and Urban Development (HUD) housing partnerships and one real estate management partnership.
Price Set Arbitrarily; Buy-Sell Price Not Controlling for Estate Tax
The issue is the effect, if any, of a buy-sell agreement on the value of shares of CamVic Corp. that are includable in the estate of Cameron W. Bommer (decedent).
Tax Court Split 9 to 6 on Preserving Family LLC for Gift vs. Income Tax Purposes
In a 9-to-6 split decision, U.S. Tax Court decides that “check-the-box” regulations, which disregard the entity form of a single-member LLC for federal income tax purposes, do not apply to assessments of federal gift taxes.
Valid Nontax Purpose for Transfer to Holding Company Does Not Save Subsequent Transfer to FLP
This case does a good job of reviewing most of the significant decisions in this area and can serve as a minireference guide to the latest in FLP law.
Valuation uncertainty continues – the Ninth Circuit reverses the Tax Court
The recent enactment of the Economic Growth and Tax Relief Reconciliation Act of 2001 1 (Act) poses new challenges and opportunities alike to owners of substantial estates and their profess ...
Petitioners’ Basis in Inherited Art Collection Is the Value Determined for Federal Estate Tax Purposes
The U.S. Tax Court determined the petitioners’ basis in an art collection inherited from their father.
Accountant’s Faulty Tax Advice Results in an Indirect Gift From Decedent
The Tax Court determined that the decedent did not receive adequate and full consideration when she transferred real property to her children in exchange for a private annuity.
Tax Court Values Partnership Interest in Future Lottery payments
This estate tax case concerns 19 annual installment payments of lottery winnings to a limited partnership in which the decedent held a 2% general partnership interest and a 48% limited partnership interest.
Absorption Discount Applied to Value Assets
The issue in this estate tax matter is the valuation of decedent's 166 2/3 shares of stock representing one-third of the total of Marrero Land, a real estate operating company that engages in "the business of acquiring, developing, managing, improving, maintaining, leasing, and selling real estate."
Buy-Sell Agreements Do Not Control for Estate Tax Purposes
The Tax Court considered whether buy-sell agreements controlled the value of the business interests the decedent held for estate and gift tax purposes.