Estate of Michael J. Jackson v. Commissioner
Tax Court mostly sides with estate of late superstar in valuing three contested assets; assets had to be valued separately, based on parties’ stipulations, and at death; court says Jackson’s “tattered” image and likeness meant he earned little money apart from his music; court rejects tax affecting.
Tax Court Hands Jackson Estate Major Win but Finds Reasoning for Tax Affecting Unpersuasive
Tax Court mostly sides with estate of late superstar in valuing three contested assets; assets had to be valued separately, based on parties’ stipulations, and at death; court says Jackson’s “tattered” image and likeness meant he earned little money apart from his music; court rejects tax affecting.
Court Rejects Art Market Expert’s Profitability Analysis
Court says artist’s art making is business and IRS expert’s appreciation analysis is unreliable where the expert did not consider factors other than price of previously sold paintings; artist could reasonably expect to make profit despite prior losses.
Crile v. Commissioner
Court says artist’s art making is business and IRS expert’s appreciation analysis is unreliable where the expert did not consider factors other than price of previously sold paintings; artist could reasonably expect to make profit despite prior losses.
In re Marriage of White
At issue is the valuation and divison of inherited property and husband's royalities from textbook publication.
In re Marriage of Hogan
One issue in this case was the valuation of an art studio and its goodwill.
Golub v. Golub
At issue is whether or not wife's celebrity status should be valued as marital property.