E.J. Harrison and Sons, Inc. v. Commissioner
Issue is whether compensation paid to taxpayer's officer was reasonable compensation that was therefore deductible.
Brewer Quality Homes, Inc. v. Commissioner (I)
Issue is the extent to which amounts that petitioner paid to shareholder-officer are deductible as reasonable compensation under section 162(a)(1).
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 ...
Revised Opinion on Rehearing
In the February 2002 issue, we abstracted the Dec. 10, 2001, opinion in this case. Both parties filed petitions for rehearing, which were granted. This opinion on rehearing replaces the original opinion. The only material change in the new opinion addresses when the withdrawing partner's debt to the partnership should be offset.
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").
No Evidence to Support 'Going Concern Value' Adjustment
This is an appeal by the remaining partners of the trial court's findings in determining the value of the withdrawing partner's partnership interest as of the date of dissolution.
Marengo v. Bowen
NOTICE: THIS OPINION WAS REPLACED AFTER REHEARING. WE HAVE KEPT THE ORIGINAL OPINION HERE FOR REFERENCE AND COMPARISON PURPOSES.
Must account for reasonable compensation in goodwill calculation
The plaintiff in this divorce proceeding, Mr. Clymer, is an attorney in Columbus, Ohio. Mr. Clymer engaged a CPA, Richard Ferguson of Ferguson Consulting , to perform a valuation of his l ...
9th Circuit Affirms Tax Court Reasonable Compensation Ruling
This decision affirms the Tax Court case abstracted in the December 1998 BVU, p. 5.
Clymer v. Clymer (II)
At issue is whether the trial court properly determined reasonable compensation in its analysis of the value of Mr. Clymer's interest in the law practice.
Reasonable compensation requires evidentiary support; 15-year court battle finally ends six-year marriage
The plaintiff in this divorce proceeding, Mr. Clymer, is an attorney in Columbus, Ohio.
LabelGraphics, Inc. v. Commissioner (II)
At issue is the determination of reasonable employee compensation for deduction as an ordinary and necessary business expense.
Capitalization of earnings value must exclude reasonable compensation
One of the issues in this marital dissolution was the valuation of the husband's business.
In re marrige of Lee
At issue is appellant's claims that the district court abused its discretion in adopting the valuation of the business prepared by respondent's expert.
In re the Marriage of Lee
At issue is the valuation of the couple's business.
In re the Marriage of Lee
One of the issues in this marital dissolution was the valuation of the husband's business.
Exacto Spring v. Commissioner
At issue is the interpretation of tax law that allows a business to deduct from its income its "ordinary and necessary" business expenses.
7th Circuit Rejects Tax Court's Reasonable Compensation Test
The issue in this corporate income tax matter was whether the petitioner's deduction for the salary of its chief executive and principal owner was excessive, as asserted by the IRS.
7th Circuit Affirms Independent Investor Test When Determining Reasonable Compensation
The 7th Circuit reversed the U.S. Tax Court and determined that the independent investor test was the appropriate test for determining whether an executive's compensation was reasonable and, thus, deductible to the corporation under IRC sec. 162.
7th Circuit Affirms Independent Investor Test When Determining Reasonable Compensation
The 7th Circuit reversed the U.S. Tax Court and determined that the independent investor test was the appropriate test for determining whether an executive's compensation was reasonable and, thus, deductible to the corporation under IRC sec. 162.
Court Enumerates Five-Factor Reasonable Compensation Test; Experts Offer Little Evidence; Testimony Accorded Little Weight
The main issue at hand in this case is the amount that Labelgraphics is entitled to deduct under Section 162 as reasonable compensation to its president, Lon Martin.
Labelgraphics, Inc. v. Commissioner (I)
The main issue in this case is the amount that Labelgraphics is entitled to deduct under Section 162 as reasonable compensation to its president.
Value Hinges on Reasonable Compensation to an Indispensable Executive
After concessions, the issue for consideration is the amount that Exacto Spring Corp. is entitled to deduct as reasonable compensation to an indispensable executive.
Exacto Spring Corporation v. Commissioner (I)
Isue for consideration is the amount that Exacto Spring Corporation is entitled to deduct as reasonable compensation to an indispensable executive.
A system for valuing a restaurant business
The essence of the Richard Ayers Restaurant Valuation System is net assets, adjusted to fair market value, plus up to two times reconstructed cash flow after reasonable owner’s compensation.