BV specialty available to ASA real property valuers
Real property appraisers designated by the American Society of Appraisers can add a specialty in going-concern valuation for valuing a real estate-centered enterprise, i.e., a firm that also owns its real estate, such as a restaurant, nursing home, hotel, convenience store, and the like.
How to support subjective areas of valuation
Gone are the days when you could support your opinion by simply saying, “It is based on my professional judgment.”
Tricks of the trade in detecting rigged valuations
Did you ever read a business valuation report where you knew the valuation was rigged to obtain a higher or lower value?
How IRS turmoil from the shutdown affects BV
The IRS is doing its best to recover from the government shutdown, but business valuation experts need to be aware of certain issues, according to Michael Gregory (Michael Gregory Consulting LLC), who gave an IRS update during a recent BVR webinar.
A Dozen ‘Don’ts’ to Help Survive a Divorce Engagement
The nuances of divorce valuations and testifying in court create difficulties that make divorce engagements especially challenging.
BVU News and Trends March 2019
A monthly roundup of key developments of interest to business valuation experts.
Galasso v. Cobleskill Stone Products
New York appellate division upholds the trial court’s order to disclose a valuation report, finding the appraisal was relevant to the litigation and done for estate tax purposes and therefore was not “of a legal character”; the attorney-client privilege does not apply, court says.
Court Explains Why Valuation Report Is Discoverable
New York appellate division upholds the trial court’s order to disclose a valuation report, finding the appraisal was relevant to the litigation and done for estate tax purposes and therefore was not “of a legal character”; the attorney-client privilege does not apply, court says.
‘Essentials’ track offered at National Divorce Conference
Valuation experts have a lot of sessions to choose from at the National Divorce Conference in Las Vegas May 8-10.
Special workshop on TCJA and divorce engagements
The Tax Cuts and Jobs Act (TCJA) affects practically everything in valuation, especially in divorce engagements.
Valuation experts should not practice law
One of the pieces of advice you’ll undoubtedly hear at the National Divorce Conference in Las Vegas May 8-10 is that a valuation expert should not practice law without a license.
For goodwill, sometimes simpler is better
In last week’s BVWire, we covered a divorce case in which the husband’s valuation expert used the multiattribute utility model (MUM) framework for separating personal and enterprise goodwill.
In court, a picture is worth a thousand numbers
For an appraiser to be a good expert witness, he or she must be able to explain highly technical and complex financial concepts in a simple way.
Appeals Court Upholds Grocery Store Buyout Ruling and Fair Value Determination
Appeals court upholds district court’s buyout order of minority shareholder’s interests in related family businesses (grocery store chain) as well as district court’s fair value determination; district court’s valuation “falls squarely” between trial experts’ valuations, appeals court says.
Lund v. Lund (II)
Appeals court upholds district court’s buyout order of minority shareholder’s interests in related family businesses (grocery store chain) as well as district court’s fair value determination; district court’s valuation “falls squarely” between trial experts’ valuations, appeals court says.
Tip for finding hidden assets in divorce
Parties to a divorce often play hide-and-seek with assets so the valuation expert often has to help ferret them out.
Going-concern appraisals vs. business valuations
Real property appraisers often value special-use properties, hotels, and senior care facilities, to name a few, on a going-concern basis. The term "going-concern" is not defined in the Canadian Uniform Standards of Professional Practice (CUSPAP), although it is defined in The Appraisal of Real Estate, 3rd Edition, wherein the definition is: “All tangible and intangible assets of an established and operating business with an indefinite life.”
Persaud v. Goad
Court affirms divorce valuations for mixed real estate and business assets; even if trial court erred in stating negative value for business that generated no income but carried high annual costs, the error was harmless where court reframed decision as one of fairness rather than finances.
Mix of Real Estate and Business Assets Poses Valuation Challenges for Courts
Court affirms divorce valuations for mixed real estate and business assets; even if trial court erred in stating negative value for business that generated no income but carried high annual costs, the error was harmless where court reframed decision as one of fairness rather than finances.
BVU News and Trends November 2018
A monthly roundup of key developments of interest to business valuation experts.
5th Circuit Upholds Tax Court’s Characterization of Interest and Discount Rulings
In estate tax dispute, Tax Court agrees with IRS that decedent transferred limited partner interest, not assignee interest, to revocable trust; under partnership agreement, limited partner had rights not available to assignee; court rejects discount for lack of control and adopts IRS’ DLOM rate.
Estate of Streightoff v. Commissioner (I)
In estate tax dispute, Tax Court agrees with IRS that decedent transferred limited partner interest, not assignee interest, to revocable trust; under partnership agreement, limited partner had rights not available to assignee; court rejects discount for lack of control and adopts IRS’ DLOM rate.
Agenda released for 2019 AAML/BVR National Divorce Conference
The agenda is now available for the National Divorce Conference to be presented by BVR and the American Academy of Matrimonial Lawyers (AAML) in Las Vegas, May 8-10, 2019.
IRS BV community is ‘fractured’
The IRS business valuation community is “very fractured,” leading to inconsistencies on audits, says former IRS manager Michael Gregory (Michael Gregory Consulting LLC).