In re Marriage of Bainbridge
In this Iowa appellate case regarding a marital dissolution, the appellate court affirmed the decision of the trial court judge as to the value of the husband’s construction company. The wife’s expert used a valuation date of Dec. 31, 2020, versus trial date of December 2021 because of availability of information on the business.
Value of Husband’s Business Affirmed Based on Trial Judge’s Reasonable Discretion
In this Iowa appellate case regarding a marital dissolution, the appellate court affirmed the decision of the trial court judge as to the value of the husband’s construction company. The wife’s expert used a valuation date of Dec. 31, 2020, versus trial date of December 2021 because of availability of information on the business.
Tax Court Rejects Claimed Deduction for Management Fees
The U.S. Tax Court recently agreed with the Internal Revenue Service that management fees a corporation paid to its three shareholders over a three-year period were not deductible since none of the fees were paid “purely for services” and the petitioner failed to show the fees were “ordinary, necessary, and reasonable.” Rather, they represented disguised distributions, the court found.
Aspro, Inc. v Commissioner
The U.S. Tax Court recently agreed with the Internal Revenue Service that management fees a corporation paid to its three shareholders over a three-year period were not deductible since none of the fees were paid “purely for services” and the petitioner failed to show the fees were “ordinary, necessary, and reasonable.” Rather, they represented disguised distributions, the court found.
Boyer v. Wilmington Materials, Inc.
At issue is the valuation of the plaintiff's interest in Wilmington Materials, Inc.
Interested Directors Fail to Meet Entire Fairness Standard
This issue in this shareholder dispute is whether the defendants' approval of the sale of substantially all of the assets of Wilmington Materials Inc. (WMI) to Delaware Aggregates Inc. (DAI), in which five of the defendants had an interest, met the entire fairness standard applicable to interested transactions.
Rudolf v. United States
At issue is the valuation of stock at the time of death.
Rudolph v. United States
Plaintiff brought this action to recover an IRS tax paid, alleging that it was erroneously, illegally, and excessively assessed and collected.
Hayes v. Hayes
At issue was the value of the marital property including interest in an asphalt paving company.