Business Valuation and Federal Taxes: Procedure, Law and Perspective, 2nd Edition

Hardcover (528 pages)

Judge David Laro, Shannon Pratt

John Wiley & Sons, Inc.

Combining the expert knowledge of Senior Judge David Laro and Shannon Pratt, Business Valuation and Federal Taxes, Second Edition presents the authors' decades of experience, with advice on everything practitioners need to know about the relationship between federal taxes and valuation, and specifically valuations relating to business interests. This reference features in-depth examinations of numerous topics that are particularly important to practitioners and explores a broad understanding of the basic knowledge needed to appreciate business valuation. 

Valuators, CPAs consulting on valuations, attorneys, corporate development officers, and intermediaries on business valuation will benefit from insightful discussions on topics ranging from general definitions to valuing complex business interests, as well as new discussions of:

  • Personal versus enterprise goodwill
  • New materials on transfer pricing and customs valuations and how recent markets have affected both the income and market approaches
  • Coverage of FAS 157 and the many changes to penalties and sanctions affecting both taxpayers and appraisers
  • Several important new court cases

Coverage is also included on standards of business valuation, IRS positions, burden of proof in valuation controversies, questions to ask business valuation experts, economic and industry analysis, and tax-affecting pass-through entities. Complete with a full overview of the laws, procedures, and approaches related to business valuation, this invaluable reference is a wellspring of vital information on valuation approaches, techniques, finance-related issues, burden of proof, standards, choice of entity, and much more.

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Table of Contents:

  • Foreword to Second Edition.
  • Foreword: Legal Practitioner's Perspective.
  • Foreword: Law Professor's Perspective.
  • Foreword: Business Appraiser's Perspective.
  • Preface to the New Edition.
  • Acknowledgments.
  • About the Authors.
  • CHAPTER 1: Standards of Business Valuation.
  • CHAPTER 2: Subsequent Events.
  • CHAPTER 3: Business Valuation Experts.
  • CHAPTER 4: Sources of Law and Choice of Courts.
  • CHAPTER 5: Burden of Proof in Valuation Controversies.
  • CHAPTER 6: Penalties and Sanctions.
  • CHAPTER 7: How the Form of Entity Affects Valuation.
  • CHAPTER 8: Valuation of S Corporations and Other Pass-Through Tax Entities: Minority and Controlling Interests.
  • CHAPTER 9: Transfer Pricing.
  • CHAPTER 10: Customs Valuation.
  • CHAPTER 11: Adjustments to Financial Statements.
  • CHAPTER 12: Comparative Financial Statement Analysis.
  • CHAPTER 13: Economic and Industry Analysis.
  • CHAPTER 14: Site Visits and Interviews.
  • CHAPTER 15: The Income Approach.
  • CHAPTER 16: The Market Approach.
  • CHAPTER 17: The Asset-Based Approach.
  • CHAPTER 18: Entity-Level Discounts.
  • CHAPTER 19: Minority Discounts/Control Premiums.
  • CHAPTER 20: Discounts for Lack of Marketability.
  • CHAPTER 21: Other Shareholder-Level Discounts.
  • CHAPTER 22: Personal versus Enterprise Goodwill.
  • CHAPTER 23: Weighting of Approaches.
  • CHAPTER 24: IRS Positions.
  • CHAPTER 25: Business Appraisal Reports.
  • CHAPTER 26: Valuation of Options.
  • CHAPTER 27: Questions to Ask Business Valuation Experts.
  • APPENDIX A: International Glossary of Business Valuation Terms.
  • APPENDIX B: Bibliography.
  • Table of Cases.
  • Index.