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Stay appraised of all the latest business considerations in the jewelry industry! The report explains how jewelry stores operate, the nature of their revenue streams, value drivers, the industry environment, the risks involved, and other key factors.
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Is There or Isn’t There Goodwill: Expert Disagreements
Valuations performed in the context of divorce litigation encounter scrutiny and challenge from opposing counsel and their experts. This puts experts in the unique situation of defending their analyses and opinions. Join expert witness and appraiser Josh Shilts as he discusses common areas disagreed upon and causes, examples of effective communication techniques to exemplify your position, and how to mitigate bias.
Valuation and the IRS: Update for 2019
What are the implications of the government shut down on the IRS’s ability to audit business valuation returns in 2019? What steps should you take if your appraisal is audited by the IRS? In this must-attend webinar, expert Michael Gregory will answer these questions and cover key areas such as the top three business valuation appraisal audit areas by the IRS. Attendees will come away with recommendations on how to work with the IRS given ...
How the IRS Determines Reasonable Compensation and What You Should Do
In the most up-to-date commentary on reasonable compensation and the IRS, Mike Gregory, the original champion with the IRS on this issue, gives commentary on how to determine reasonable compensation for federal tax purposes. With fresh insight from developing his latest book, Business Valuations and the IRS, Five Books in One, Gregory will cover three IRS Job Aids including highlights of the Job Aid on Reasonable Compensation. He'll then critique each and offer valuable insights ...
Advanced Workshop on Estate and Gift Valuations for the IRS
Of late, much uncertainty has surrounded appraisals for estate and gift tax purposes. Though as financial experts watch judicial action and legislative inaction closely for signs of change and stability, the work of estate and gift appraisals continues with a singular constant: the Internal Revenue Service as reviewer. In the Advanced Workshop on Estate and Gift Valuations for the IRS, expert Michael Gregory, a former territory manager with the IRS, joins BVR for an in-depth examination ...
Big Valuation Opportunity in Diagnostic Imaging Centers
Hospitals are acquiring physician practices and expanding outpatient services at a dizzying pace in the healthcare industry. Diagnostic imaging centers are often caught up in this frenzy. Such a situation represents a good opportunity for business apprais ...
Book Review
Book Review Healthcare Valuation: The Financial Appraisal of Enterprises, Assets, and Services, authored by Robert James Cimasi. Hoboken, New Jersey: John Wiley & Sons, 2014. US$140.00 hardcover, $91.99 e-book. Reviewed by Jason L. Ruchaber, CFA, ASA Healthcare Valuation: The Financial Appraisal of Enterprises, Assets, and Services (John Wiley & Sons, 2014), is a comprehensive two-volume, 1,800 page text authored by Robert James Cimasi, MHA, ASA, MCBA, CVA, CM&AA, chief executive officer of Health Capital ...
Book Review
A review of "The Adviser's Guide to health Care, 2nd ed.," written by Robert James Cimasi and Todd A. Zigrang.
Beyond FMV: Commercial Reasonableness of Physician Compensation Post-MACRA
The influx of federal money over the past several decades to healthcare providers, and the allocation of those dollars, drastically transformed the healthcare delivery system in a way that has had dramatic impact on the economic and financial value of healthcare enterprises, assets, and services. The recent paradigm shift in the reimbursement environment, from volume to value, has had perhaps the greatest impact on the processes and outcomes of valuation assignments, as the reimbursement environment ...
Healthcare Market Structure and Its Implication for Valuation of Privately Held Provider Entities: An Empirical Analysis
Healthcare Market Structure and Its Implication for Valuation of Privately Held Provider Entities: An Empirical Analysis by Mark O. Dietrich, CPA, ABV Introduction The explosion in healthcare transactions after a ten- year hiatus has created a booming market for appraisal and valuation services. One of the peculiar aspects of the healthcare industry is that many if not most transactions must be supported by an independent appraisal due to governmental regulatory concerns. As such, failure ...
A Methodology for Allocating Enterprise and Personal Goodwill
The purpose of this research is to provide a logical methodology for allocating the total goodwill of a professional practice between the element of personal goodwill attributable to the practitioner and the element of enterprise goodwill attributable to the professional practice. The methodology presented in this research includes four basic steps: (a) the identification of individual factors within a professional practice that are attributes of goodwill; (b) the objective determination of the comparative importance of ...
Business Valuation Cases in Brief
Page 87 June 2005 Business Valuation Cases in Brief by John J. Stockdale, Jr. Estate In Estate of Frazier Jelke III v. CIR, T. C. No. 2005- 131, the U.S. Tax Court considered the valuation of a minority interest in a closely held company holding marketable securities. It calculated the built-in capital gains tax discount by reference to a time-value of money analysis, which considered the turnover rate of the company’s stock portfolio. It ...
Business Valuation Cases in Brief
Page 181 September 2004 Business Valuation Cases in Brief by John J. Stockdale, Jr. In Betsy T. Turner, Executrix of the Estate of Theodore Thompson v. CIR, No. 03-3173 (3rd Cir. September 1, 2004), the U.S. Court of Appeals for the Third Circuit affirmed the application of IRC sec. 2036 to recapture assets transferred to two family limited partnerships (FLPs). The Third Circuit ruled that where the partnerships do not carry on any legitimate ...
Hospitals on shopping spree for physician practices
More than 50% of hospitals plan to acquire a physician practice this year, compared to 44% last year, according to a new worldwide survey from healthcare staffing company Jackson Healthcare.
Letter to the Editor: Comments on a Recent Article on the FMV of Physician Compensation
A letter in response to the article, “Dietrich and Smith’s Debate Challenge Re: FMV of Physician Pay,” that appeared in the March 2018 issue of Business Valuation Update that presents new thinking and approaches.
Dietrich and Smith’s Debate Challenge Re: FMV of Physician Pay
Mark Dietrich and Tim Smith will debate anyone who disagrees with their views on the fair market value of physician compensation, views that refute conventional wisdom. BVR will provide a forum for the debate.
New Approach to FMV of Physician Pay Could End Hospital Woes
Unless there’s a change of mindset over the fair market value of physician compensation, hospitals will stay on the government’s radar for fraud and abuse claims. At the recent AICPA Healthcare Industry Conference, speakers at several sessions refuted con ...
The market for medical practice consolidation is hot right now
SP: Rick, why should the current wave of medical practice consolidations be so exciting to our readers? RH: The market for medical practices is hot right now. The consolidation play going on in ...
How Technical and Professional Components of Ancillary Revenue Affect Medical Practice Values
Valuing a medical business is like any other--it requires an understanding of how revenue is generated—what products or services are sold, how much revenue comes from each, and knowledge of competing products or services and competing sellers. For medical ...
Book Review: The Updated BVR/AHLA Guide to Healthcare Valuation: More Valuable Than Ever
Healthcare is arguably the most complicated segment of our economy, and reform legislation promises further challenges ahead. The new BVR/AHLA Guide to Healthcare Valuation, third edition, edited by Mark O. Dietrich, builds upon the excellent previous edi ...
Physician Distribution, Mobility, Fair Market Value, and Compensation Surveys
An analysis of regional differences in physician compensation coupled with the general tendency against long-distance relocation shows there is no national market for established physicians. Rather, local market conditions must be considered in setting fair market value.
How the Healthcare Industry Misuses and Abuses Survey Data
Compensation survey data do not provide a complete and precise depiction of the physician marketplace for any physician deal. The authors debunk the current “survey says” paradigm and provide the foundation for a completely new standard for the fair market value of physician clinical compensation.
Avoiding the Valuation of Referrals in a Healthcare Context
When valuing an arrangement that involves a healthcare entity and physicians, valuation analysts must proceed with a great deal of caution. The valuation cannot—in any shape or form—be based on any consideration of anticipated referrals. If it is, the hos ...
Physician Distribution, Mobility, Fair Market Value, and Compensation Surveys: An Update
This article updates the author’s peer-reviewed research on the geographic distribution of physicians in the United States, including some key commentary from CMS about the use of surveys for Stark fair market value.
Sneak Preview of New Material in the BVR/AHLA Healthcare Valuation Guide
The valuation community breathed a sigh of relief when the Department of Labor removed appraisals entirely—not just ESOP appraisals—from fiduciary treatment in its final rules designed to strengthen retirement security. But the appraiser-as-fiduciary iss ...
Use and Misuse of Survey Data to Set Physician Compensation
Timothy Smith (Ankura Consulting) interviews Meghan Wong, assistant director, data solutions, Medical Group Management Association (MGMA), in an excerpt from the recently released BVR/AHLA Guide to Valuing Physician Compensation and Healthcare Service Arrangements, 2nd edition.