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BV News and Trends June 2024

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

BV News and Trends May 2024

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

Takeaways from the NYSSCPA valuation conference

BVWire attended last week’s annual New York State Society of CPAs’ Business Valuation and Litigation Services Conference, and—as usual—it was an excellent event.

What to Glean From the IRS Hiring Binge for BV Experts

The IRS needs to hire 31 business valuation experts, and the job announcement provides an interesting perspective as to the valuation issues that are on the agency’s radar.

April 2024 issue of Willamette’s Perspectives is released

The April 2024 issue of the quarterly digital publication Perspectives, from Willamette Management Associates, has been released, and you can access it if you click here.

Reminder: IRS is hiring a flock of BV experts

Honolulu; Palm Springs, Calif.; Las Vegas; Orlando, Fla.; and even the Bronx, N.Y., are just a few of the 249 locations for which the IRS is hiring 31 business valuation experts, according to a job announcement, which is available if you click here.

The IRS is looking for you

Don’t panic—it’s not about an audit.

IRS hiring BV experts—virtual open house February 29

Want to relocate to Hawaii? That’s one of the locations for which the IRS needs to hire business valuation experts to join its team.

Another expert ‘Dauberted’ out of a damages case

In last week’s issue, we reported on a damages case in which a valuation expert’s testimony was excluded because of the methodology used in the analysis. In this week’s case (also a damages matter), the expert didn’t even get that far before being excluded.

Lost profits calculation goes off the track

In a Missouri breach of contract case, the plaintiffs were carriers who delivered print newspapers to subscribers under an agreement that gave them territorial rights.

BV News and Trends December 2023

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

Bextermueller News Distribs., Inc. v. Lee Enters.

In determining damages, the plaintiffs’ damages expert used a method of determining damages revolving around a calculation of lost revenue. The defendants argued the testimony was irrelevant and unreliable because the lost revenue calculations were based on the erroneous premise that the plaintiffs were entitled to recover, as damages, delivery fees for digital subscribers to a newspaper. The court disagreed and excluded the expert’s testimony under Rule 702.

Plaintiff Expert Is Excluded—Lost Revenue Calculation Is Not an Approach Allowed for Damages in Missouri (Rule 702 Exclusion)

Plaintiff news carriers operated as home delivery carriers under a contract with the defendant newspaper. Around 2017, the defendant began offering an electronic version of the newspaper, allegedly breaching the exclusive territorial provisions of the contract with the carriers. In determining damages, the plaintiffs’ damages expert used a method of determining damages revolving around a calculation of lost revenue. The defendants argued her testimony was irrelevant and unreliable because her lost revenue calculations were based on the erroneous premise that the plaintiffs were entitled to recover, as damages, delivery fees for every digital subscriber. The court disagreed and excluded the expert’s testimony under Rule 702.

Business Valuation Firm Benchmarking Guide: 2023 Edition

November 2023 PDF, Softcover (103 pages)

Business Valuation Resources, LLC

Capture essential insights from more than 190 BV firms and refine them into a concise and easy to reference guide that focuses on different aspects of practice management and practice building. Propel your firm to the forefront of the BV profession with the all-new Business Valuation Firm Benchmarking Guide! Learn more >>

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.

Hitchner busts more BV myths

Does the fair market value standard assume a financial buyer, without synergistic benefits?

BV News and Trends June 2023

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

More on Hitchner’s myth-busting regarding restricted stock

A few weeks ago, we covered the start of Jim Hitchner’s list of BV myths he is out to bust.

Hitchner launches a BV myth-busting effort

Some notions have recently been kicking around in the valuation profession that have prompted Jim Hitchner (Financial Valuation Advisors) to speak out.

BV News and Trends March 2023

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

IRS updates job posting for BV experts

The IRS added one more open slot to its job posting in its quest to hire more business valuation experts—and has also added more job locations.

Hot Topics at the 2022 VSCPA Forensic and Valuation Conference

It was back to in-person attendance at the 22nd annual Forensic and Valuation Conference hosted by the Virginia State Society of CPAs. Topics included the income approach, effective recruiting, reasonable compensation, guideline transactions, surviving cross-examination, IRS developments, and a “Hardball With Hitchner” session that covered some front-burner issues.

Recap of the New Jersey CPA Society FVS Conference

Some excellent speakers covered litigation tips, malpractice, estate tax audits, statistics for lost profits, cryptocurrency, and divorce matters at the Forensic and Valuation Services Conference hosted by the New Jersey Society of Certified Public Accountants (NJCPA ...

BV News and Trends December 2022

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

A new job for 2023? IRS needs BV experts

The job posting is still open from the IRS, which is looking to hire experienced business appraisers for 14 open positions at various U.S. locations.

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