Taxes and Value: The Ongoing Research and Analysis Relating to the S Corporation Valuation Puzzle
Table of Contents:
- About the Authors
- Chapter 1. The Importance of Matching the Cost of Capital With the Income Stream
- Chapter 2. Introduction to the Concept of Implicit Taxes
- Chapter 3. An Explanation of the Implications of Shareholder Taxes on the Corporate Cost of Capital
- Chapter 4. Literature Review: Research on the Effect of Taxes Embedded in the Cost of Capital
- Chapter 5. Impact of Prior Research on Private-Company Valuation
- Chapter 6. Foundation for Cash Flow-Based Models
- Chapter 7. Research Related to the Magnitude of Taxes Embedded in the Cost of Capital
- Chapter 8. An Alternative Approach to the Valuation of Pass-Through Entities
- Appendix A. Suggested Areas for Further Research
- Appendix B. Evolution of Pass-Through Entity Valuation
- Appendix C. Understanding the Basics of the Cost of Capital
- Appendix D. C Corporation Versus S Corporation Transaction Pricing
- Appendix E. Digests of Cases Addressing Pass-Through Entity Issues
- Appendix F. Bibliography
- Appendix G. Links to Selected Academic Research Papers
Here is what the technical review panel has to say about this highly-anticipated guide:
"Great job marshalling the arguments and presenting them in a logical way."
--Aswath Damodaran, Professor of Finance, Stern School of Business, New York University
"I am impressed at the research (...the authors) put into this document."
--Michael Gregory, Consultant, Michael Gregory Consulting
"This book has a nice flow with logical conclusions and very practical suggestions and reasonable alternatives which BV practitioners can relate to and judges can follow."
--Ken Pi, Partner in Charge of Business Valuations, Meyers, Harrison & Pia, LLC
"Bravo! I believe this will be the seminal work on the subject and serve to change a lot of minds."
--Theodore Israel, Partner, Israel Frey Group, LLC