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
Has the Tax Court Become Hostile to Appraisers? Will Ibbotston’s Become Obsolete by Next Year?
For the second year in a row, the Institute of Business Appraisers has held a sold-out, symposium-styled national gathering, informal and yet highly informative. This year’s IBA Symposium in Denver offered two-tracks, limited registration, and four-hour ...
ASA Advanced BV Conference covers host of topics
ASA Advanced BV Conference covers host of topics part 3 of 3 ...
www.BVMarketData.com sm expands
By Doug Twitchell * In addition to the newsletter you are now reading, Business Valuation Resources, LLC , also brings you several other business valuation-oriented products at www.BVMarket Dat ...
2003 AICPA BV conference brings record attendance
The 2003 AICPA National Business Valuation Conference took place in Phoenix, Arizona at the JW Marriott Desert Ridge Resort & Spa. Find part 1 of this article in the March 2004 issue of ...
ASA Advanced BV Conference: Lots of options (Part 1 of 4)
The American Society of Appraisers’ 23rd Annual Advanced Business Valuation Conference, held at the Marriott River Center in San Antonio, Texas, October 7-9, 2004 covered the gamut of BV topics, from options valuation and FASB’s proposed fair value rules ...
Laro Offers Candid Views On DLOM, Appraiser Independence, and More
“Permit me to be critical,” Judge David Laro (U.S. Tax Court) told AICPA BV attendees in the session that closed the recent New Orleans conference. “I’m not trying to be harsh,” he said, prefacing his views on the “top ten mistakes” that appraisers make ...
BVR provides access to more marketability discount data
BVR announces the addition of Lance S. Hall to the Editorial Advisory Board of Judges & Lawyers Business Valuation Update and the addition of the FMV Restricted ...
Full Tax Court addresses FLP issues in recent trilogy
Three recent U.S. Tax Court cases address important issues relating to the use of family limited partnerships for estate planning purposes, Shepherd v. Commissioner , decided Oct. 26, 2000, and K ...
Use business appraisers for buy-sell and arbitration agreements
Lawyers often only think of engaging a business appraiser in the event of litigation. Such thinking prevents the lawyer from engaging the business appraiser in non-litigation settings where to do so w ...
BV online library a valuable resource
A resource that is often overlooked by lawyers in their research and preparation of a case is the BV online library, accessible at BVLibrary.com . The staff at Business Valuation Resources has spent considerable time in recent months expanding the content and improving the look and functionality of BVLibrary.com.
When Linking Post IPO Return Data with Pre-IPO Marketability Discount Data, Should Initial Public Offering (IPO) Discounts be Considered When Estimating Value at the Shareholder Level?
Saliba, R. Gary, "When Linking Post IPO Return Data with Pre-IPO Marketability Discount Data, Should Initial Public Offering (IPO) Discounts be Considered When Estimating Value at the Shareholder ...
ETFs, DLOMs, and FLPs: Minimum Marketability Discounts
It is often said that holdings of publicly traded stocks in an entity such as a family limited partnership (FLP) warrant very small discounts for lack of marketability (DLOM). But a recent study indicates the prices of long-term equity anticipation s ...
Discounts may apply when company holds nonhomogeneous assets or a diverse portfolio
Shannon Pratt's latest book Business Valuation Discounts and Premiums thoroughly discusses the well-known minority and marketability discounts. However, it also covers less familiar discounts, such as ...
New report on marketability discounts in the court now available
Janet Hamilton, Linda L. Kruschke, Tanya R. Hanson, and Jill Johnson , Business Valuation Resources Special Report, available for $39, or free with your new or renewal subscription to Shannon Pratt ...
Florida Court Considers Prohibiting Marketability Discounts in Divorce
Court considers a per se ban on marketability discounts in divorce cases.
Rule 702, Daubert, Kumho Tire Co., and the Development of Marketability Discounts
RULE 702, DAUBERT, KUMHO TIRE CO. AND THE DEVELOPMENT OF MARKETABILITY DISCOUNTS , Mercer, Z. Christopher E-Law Business Valuation Perspective 00-10, Oct. 23, 2000. This article looks a ...
Weinberg v. Commissioner: Good law, bad economics, or both?
Lawyers often comment that good cases make bad law. As an economist, I have a similar comment: good law often comes from bad economics. By definition, a judge’s opinion is good law.
Valuation expert provides insight on Howell v. Howell - Court accepts value to owner versus fair market value
The April 1999 issue of Judges & Lawyers Business Valuation Update summarized the opinion of the trial court in Howell v. Howell , 1998 WL 972312 (Va Cir. Ct.). This is a notable e ...
Matthews critiques Mercer's Simplot case review
In his review of Estate of Richard R. Simplot v. Commissioner , 112 T.C. No. 13 (1999), Chris Mercer missed the principal point of the decision. The key issue was whether the premium for v ...
Expert dubbed "unpersuasive" rebuts Judge Laro's rejection
I have reviewed the write up of Estate of Kaufman in the May issue of your newsletter, and I am very concerned that it unfairly portrays me as having not done a credible valuation because it takes Judge Laro's criticisms of my report at face value.
How to Use the Latest DLOM Study for the Johnson/Park Empirical Method
An example of how to apply the Johnson/Park empirical method, which is based on the fundamental concept of risk and reward. The annual study serves as a basis to determine how much of an increase in the rate of return is required to compensate investors for the lack of marketability of a subject interest.
LEAPS put option discounts offer guideline, but not final word, on minimum DLOM
“Minimum Marketability Discounts”- 2nd Edition, Ronald M. Seaman, Business Valuation Review, June 2005, pp. 58-59.
More comments on the Tax Court and FLPs
by Arthur Sederbaum* It would be redundant for me to attempt duplication of Ron Aucutt's treatment of the new FLP cases, which ran in the January 2001 issue of this newsletter. Please permit me, howe ...
FLP trilogy a victory for taxpayers
As discussed in my December 2000 Editor's Column, I requested that several members of our Editorial Advisory Board provide me with comments regarding the recent Tax Court trilogy of FLP cases for a sy ...
ABA panel calls for elimination of ancillary business restrictions
By Shannon Pratt and Yazhi Li The theme of the ABA Tax Section Plenary Session was whether to do away with the rules prohibiting law firms from engaging in ancillary businesses with non-lawyer ...