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Trethewey v. Trethewey

The husband’s $5 million “transitional bonus” when he changed jobs as a financial advisor to Wells Fargo Advisors was included both as income and as an asset in determining alimony and assigning all of the liability on a Wells Fargo note to him.

Massachusetts Appellate Court Finds Double and Maybe Triple Dipping and Reverses and Remands

The husband’s $5 million “transitional bonus” when he changed jobs as a financial advisor to Wells Fargo Advisors was included both as income and as an asset in determining alimony and assigning all of the liability on a Wells Fargo note to him.

The No. 1 valuation issue that triggers an IRS audit

Discounts continue to be the No. 1 red flag that triggers an IRS audit, according to former IRS manager Michael Gregory (Michael Gregory Consulting LLC), speaking at the recent American Society of Appraisers (ASA) International Appraisers Conference in New Orleans.

NFT Valuation: What You Need To Know

In 2021, nonfungible token (NFT) prices drastically increased and then dropped substantially just over year later. These digital assets can be difficult to grasp, but they now play a role in personal investment portfolios and on company balance sheets. As a result, valuations of digital assets will be needed for issues such as divorce litigation, estate valuations, bankruptcy litigation, fair value measurements, and more. This presentation will demystify these investments and teach attendees how the ...

BV News and Trends October 2022

A monthly roundup of key developments of interest to business valuation experts.

Thomasee v. Thomasee

The Louisiana appellate court affirmed the decision of the trial court in a divorce case that included the value of the husband’s business in the marital estate as community property. The husband argued that the FEMA adjuster business was a professional business and that the profits were all goodwill and, therefore, not included in the estate. The wife argued that the business was not a professional business and had value other than just the personal goodwill of the husband. The value was includable as community property, and any subsequent income was half hers. The trial court sided with the wife, and the appeals court affirmed.

Louisiana Appeals Court Affirms Husband’s Business Is Not a Professional Business and Has Value Other Than Personal Goodwill

The Louisiana appellate court affirmed the decision of the trial court in a divorce case that included the value of the husband’s business in the marital estate as community property. The husband argued that the FEMA adjuster business was a professional business and that the profits were all goodwill and, therefore, not included in the estate. The wife argued that the business was not a professional business and had value other than just the personal goodwill of the husband. The value was includable as community property, and any subsequent income was half hers. The trial court sided with the wife, and the appeals court affirmed.

Whatever Happened to Specific Company Risk? Accounting for Management Risk in Private Partnerships

Multidisciplinary valuation projects set many traps for the unwary. Join Dennis Webb to learn about one such trap that affects virtually every asset holding company valuation because the real property appraiser and business valuer usually don’t know what the other needs. For specific company risk, such an omission can be quite a big deal.

BV News and Trends February 2022

A monthly roundup of key developments of interest to business valuation experts.

Prince estate and IRS settle valuation dispute

The IRS and Comerica Bank and Trust, the administrator of the estate of rock star Prince, have agreed to settle their dispute and agree on an estate value of $156.4 million, according to settlement documents submitted in the case.

BV News and Trends December 2021

A monthly roundup of key developments of interest to business valuation experts.

IRS sending agents to NACVA’s BV training

The IRS is sending 79 agents to business valuation training provided by the National Association of Certified Valuators and Analysts (NACVA), according to former IRS manager Michael Gregory (Michael Gregory Consulting LLC).

BV News and Trends October 2021

A monthly roundup of key developments of interest to business valuation experts.

2.0: The New Breakthrough in Fractional Interest Valuation

We have all been using 1.0 technology, which was designed for BV and adapted for real estate entities. Although 1.0 has evolved quite a bit in the past 25 years, its methods have remained largely disconnected from the real estate asset, a problem that has greatly reduced our credibility. Join Dennis Webb to learn about the upgrade that will allow you to address the facts of your case in a complete way and also take ...

Prince estate valuation featured on latest AICPA podcast

In the shadow of the recent court decision in the Michael Jackson estate valuation dispute, the estate of pop star Prince is currently locked in a fierce estate and gift tax dispute.

Timely Insights From the NYSSCPA Business Valuation and Litigation Services Conference

Topics include emerging issues (SPACs, cryptocurrency, and Zoom as a practice-builder) and some new perspectives on evergreen topics (estate valuations, cannabis, distressed firms, and collaborations).

Tax changes to watch for under the Biden administration

Other than the possibility of changing corporate tax rates, there is “nothing of earth-shattering importance” in terms of tax, estate, and regulatory changes expected from the Biden administration—for now, anyway—according to a panel of valuation experts on a recent BVR webinar.

BVU News and Trends March 2021

A monthly roundup of key developments of interest to business valuation experts.

Prince estate and IRS embroiled in fierce valuation dispute

A recent article in the Star Tribune says the executor of the estate of Prince, the late world-famous rock star, and the Internal Revenue Service are currently locked in a fierce estate and gift tax dispute.

Letter to the Editor: Commentary on Recent Statements by the IRS Regarding the Change to Appraisal Reviews

Former IRS manager Michael Gregory comments on recent statements from the IRS and ASA concerning a key issue with appraisal reviews prior to imposing a civil money penalty for valuation misstatements under IRC Section 6695A.

IRS addresses fears over change in appraisal reviews

Earlier this year, the IRS issued a memorandum that described changes to the way the IRS reviews appraisals prior to imposing a civil money penalty for valuation misstatements under IRC Section 6695A.

How COVID-19 Is Impacting the IRS and Valuation Audits

Still reeling from the effects of the government shutdown and budget cutbacks, the pandemic has dealt another blow to the IRS that has affected how the agency selects and reviews tax returns that include valuations. A former IRS manager who dealt with valuations at the agency gives some interesting insights.

IRS deals with triple whammy as it reviews valuations

The government shutdown, budget cutbacks—and now the pandemic—have impacted the IRS and how it selects and reviews tax returns that include valuations.

BVU News and Trends July 2020

A monthly roundup of key developments of interest to business valuation experts.

IRS change to appraisal review sparks concern from ASA and others

The American Society of Appraisers (ASA) and 10 other appraisal organizations have sent a joint letter to the Internal Revenue Service and the Treasury Department expressing concern over a recent change to the way the IRS reviews appraisals prior to imposing a civil money penalty for valuation misstatements under IRC Section 6695A.

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