Medical Billing
This U.S. industry comprises establishments (except offices of CPAs) engaged in providing accounting services (except tax return preparation services only or payroll services only). These establishments may also provide tax return preparation or payroll services. Accountant (except CPA) offices, bookkeeper offices, and billing offices are included in this industry.
Accounting Firms/Practices
This U.S. industry comprises establishments (except offices of CPAs) engaged in providing accounting services (except tax return preparation services only or payroll services only). These establishments may also provide tax return preparation or payroll services. Accountant (except CPA) offices, bookkeeper offices, and billing offices are included in this industry.
Mohen v. Mohen
In the trial court (TC), the wife was awarded $4,360,158 of mostly unaccrued interest on the corpus of trusts the husband set up unilaterally for the children. The TC took the value of those trusts, $9,291,372, as part of the marital estate. The TC also added $990,945 of interest that the trusts had received and the remaining unaccrued future interest for a total value of “distribution” paid to the husband of $14,642,475 related to the trusts. The appellate court (AC) determined that the future interest was future interest and, thus, not part of the marital estate. However, the AC let stand the determination that the value of the trusts were to be treated as a distribution to the husband.
Husband Dissipates Assets by Placing Them in Trusts for the Children, but the Appellate Court Does Not Allow Unaccrued Interest
In the trial court (TC), the wife was awarded $4,360,158 of mostly unaccrued interest on the corpus of trusts the husband set up unilaterally for the children. The TC took the value of those trusts, $9,291,372, as part of the marital estate. The TC also added $990,945 of interest that the trusts had received and the remaining unaccrued future interest for a total value of “distribution” paid to the husband of $14,642,475 related to the trusts. The appellate court (AC) determined that the future interest was future interest and, thus, not part of the marital estate. However, the AC let stand the determination that the value of the trusts were to be treated as a distribution to the husband.
Court Rejects Creditor’s Objection to Discharge Based on Debtor’s Alleged Concealment of Client List From Accounting Business Client
In this bankruptcy case, the court found there was no support for a creditor’s objection to discharge, where the creditor had sold her accounting business to the debtor and later claimed the debtor had concealed the existence and value of the business’s client list allegedly with the intent to defraud the creditor or the bankruptcy trustee.
In re Baker
In this bankruptcy case, the court found there was no support for a creditor’s objection to discharge, where the creditor had sold her accounting business to the debtor and later claimed the debtor had concealed the existence and value of the business’s client list allegedly with the intent to defraud the creditor or the bankruptcy trustee.
More Thorough Expert Persuades Court in Valuing CPA Firm
Court affirms reliance on income approach to value solo CPA practice, including distinction between personal and enterprise goodwill, but rejects trial court’s finding that 25% of the firm was the husband’s separate property, based on his demonstrated int ...
In re Marriage of Hanscam
Court affirms reliance on income approach to value solo CPA practice, including distinction between personal and enterprise goodwill, but rejects trial court’s finding that 25% of the firm was the husband’s separate property, based on his demonstrated int ...
Mulcahy, Pauritsch, Salvador & Co. v. Commissioner
Tax Court says, under independent investor test, taxpayer is not entitled to presumption that deductions for “consulting fees” are reasonable compensation; firm’s expert relied on irrelevant statistics to support reasonable compensation for services claim ...
Kingsway Financial Services, Inc. v. PricewaterhouseCoopers LLP
Court sanctions plaintiff for frustrating discovery process by failing to reveal sources and methods for calculation of economic damages in $200 million suit for securities fraud.
Appraiser Provides Accurate Measure of Debt-Ridden CPA Firm in Divorce
Court values accounting practice as a partnership, when it is a corporation "in name only."
Scott v. Scott
Court values accounting practice as a partnership, when it is a corporation "in name only."
Louisiana clarifies professional practice goodwill valuation
In this marital dissolution, the issue was the value of wife’s interest in her CPA practice (CPA practice) and the value of the couple’s funeral home (Gill LLC) that was operated by husband.
Gill v. Gill
In this marital dissolution, the issue was the value of wife’s interest in her CPA practice (CPA practice) and the value of the couple’s funeral home (Gill LLC) that was operated by husband.
Balance Sheet Dated Two Months After Shareholder Withdrawal Not Evidence of Fair Value on Date of Withdrawal
The issue in this case was whether the trial court erred in determining the value of a 50% shareholder interest in a professional corporation on the date the shareholder withdrew from the corporation.
Spivey v. Page
This appeal involves a question of valuation of the shares of a withdrawing shareholder from a professional corporation. We reverse the trial court’s determination that the shares had no value and hold that the valuation should have been made as of the ...
Court values and distributes partner's interest in enterprise goodwill of Ernst & Young
One of the issues in this marital dissolution was the value of the husband's partnership interest in the accounting firm of Ernst & Young ("E&Y"), including his interest ...
Fishman v. Fishman
The issue in this case was whether husband's interest in Zelenkofske Axelrod Consulting , was a marital asset.
Bobrow v. Bobrow
One of the issues in this marital dissolution was the value of the husband's partnership interest in the accounting firm of Ernst & Young ("E&Y").
Fishman v. Fishman
The issue in this case was whether husband's interest in Zelenkofske Axelrod Consulting, was a marital asset.
Andrea Cipriano v. CIR
The Tax Court considered whether payments received from a former spouse were includible in the petitioner’s gross income under IRC sec. 61. She argued that the payments were excludable under IRC sec. 1041, because they were for the future appreciation of ...
In Re Stephen L. Vecchitto
At issue is the valuation of 220 shares of stock of a closely-held corporation.
In Re Stephen L. Vecchitto
The trustee sued a Chapter 7 bankruptcy debtor to avoid the transfer of certain shares of stock that debtor declared valueless.
Covenant Not to Compete Key to Intangible Asset Value
The principal issue underlying these consolidated cases is the fair market value of the corporation's assets on the date of distribution.
William Norwalk, et al. v. CIR
The Tax Court concluded that without non-compete agreements executed in favor of the company, the goodwill in a professional accounting practice was the property of the accountant. Therefore, it rejected the IRS's position that goodwill was distributed t ...