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 ...
Two state CPA societies host BV events this month
Some state CPA societies organize business valuation conferences, and two of them are coming up later this month.
Check out the NJCPA’s annual BV conference September 21
The Biden tax proposals, physician compensation, cannabis, and SPACs are some of the cutting-edge topics you’ll hear about at this year’s Business Valuation and Litigation Services Conference, hosted by the New Jersey Society of CPAs.
BV News and Trends August 2021
A monthly roundup of key developments of interest to business valuation experts.
Decoding the Cross-Professional Maze: A Guide to Persuasive Real Estate-Related Valuations
Key disconnects between the real estate and business valuation professions that can blow up holding company and other real estate-related valuations. Join Dennis A. Webb to learn about the built-in conflicts between real estate appraisal and business valuation. Do you think that the two related professions would have a common understanding of valuation premises, use of data, and the appraisal process generally? They don’t. Misunderstandings and blind spots affect valuations of pretty much any business ...
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.
Michael Jackson estate valuers give rare inside look
Experts for the estate of pop superstar Michael Jackson presented a fascinating look at how the valuations were done for the “tax trial of the century” in a BVR webinar.
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).
Power Panel: Estate of Michael J. Jackson v. Commissioner
Are you ready for a thriller? Join us for this Power Panel with three experts who worked on the Estate of Michael of Jackson case: Jay Fishman, Mark Roesler, and David Dunn. Bring your questions and learn about complexities of large cases, celebrity valuations, and what valuation experts can take away from this published case.
Kakollu v. Vadlamudi
In this marital dissolution case, the Indiana Appellate Court affirms the trial court’s decision that no DLOM is allowed in the valuation of a control interest. The husband’s expert failed to provide sufficient evidence that a DLOM was appropriate at the level the wife’s expert claimed. The court also affirmed the decision that $50,000 of legal and expert fees the husband paid in advance is not part of the marital estate and thus not subject to offset.
Court Affirms No DLOM in Valuation of a Control Interest, Wife’s Legal Fees Are Not Part of Marital Estate
In this marital dissolution case, the Indiana Appellate Court affirms the trial court’s decision that no DLOM is allowed in the valuation of a control interest. The husband’s expert failed to provide sufficient evidence that a DLOM was appropriate at the level the wife’s expert claimed. The court also affirmed the decision that $50,000 of legal and expert fees the husband paid in advance is not part of the marital estate and thus not subject to offset.
Interesting question on the Michael Jackson case
There were three main valuation matters in the case of the Michael Jackson estate versus the IRS, and the estate prevailed in two of them (see our most recent coverage here).
Michael Jackson case featured on BVR ‘power panel’ July 27
Experts involved in the high-profile case involving the Michael Jackson estate versus the IRS will discuss the contentious valuation issues in the case during a BVR webinar, Power Panel: Estate of Michael J. Jackson v. Commissioner.
Federal Tax Litigation, Expert Witnesses, and the IRS
Michael Gregory will address key rules for federal expert witnesses, valuation issues with the IRS, identify key recent BV federal cases, and introduce you to what to expect in 2022. This session will also share information you need from a business valuer that mediates, negotiates, and facilitates alternative dispute resolution to give clients timely closure with significant savings with the IRS and others. After this session you will be able to: reference key federal statutes ...
Tax Court resists tax affecting in Michael Jackson case
Although the U.S. Tax Court recently handed the Michael Jackson estate a decisive victory regarding the estate’s tax liability, the court did not side with the estate on tax affecting, an issue that has preoccupied valuators, many of whom are proponents of the practice, for a long time.
In Jackson case, Tax Court dismisses IRS expert’s revenue projections as ‘simply not reasonable’
When Michael Jackson died, his image and likeness was besmirched, and yet, once competent executors took charge, they were able to make a lot of money for the estate in the immediate post-death years.
Tax Court issues highly anticipated ruling in Michael Jackson case
In the long-running litigation between the estate of the late megastar Michael Jackson and the Internal Revenue Service, the U.S. Tax Court recently issued its opinion on the value of Jackson’s image and likeness, as well as the value of his interest in two music publishing assets. Overall, this much-anticipated decision is a major win for the Jackson estate. The court’s momentous decision includes an expansive analysis of the rivaling valuation testimony.
Tax Court resists tax affecting in Michael Jackson case
Although the U.S. Tax Court recently handed the Michael Jackson estate a decisive victory regarding the estate’s tax liability, the court did not side with the estate on tax affecting, an issue that has preoccupied valuators, many of whom are proponents of the practice, for a long time.
Tax Court issues highly anticipated ruling in Michael Jackson case
In the long-running litigation between the estate of the late megastar Michael Jackson and the Internal Revenue Service, the U.S. Tax Court finally issued its opinion on the value of Jackson’s name and likeness, as well as the value of his interest in two music publishing assets.
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.
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.
Tax Court allows for ‘slight’ discount for lack of control for majority interests in real estate holding companies
In a gift and estate tax dispute, the estate and Internal Revenue Service agreed to apply discounts for lack of control and marketability to the majority interests in a number of real estate holding companies.
BVU News and Trends February 2021
A monthly roundup of key developments of interest to business valuation experts.