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S corp group comments on Section 199A proposed rules

In August, the IRS issued proposed regulations explaining the new tax law’s “qualified business income” (QBI) deduction for pass-through entities (PTE) that will impact all business valuations.

Testing the S Corp Value Premium for Realism and Reasonableness

Not long ago, we attended the author’s session at a NACVA conference where she presented on this topic. We asked her for this article, which has some key takeaways from that session as well as from a longer paper she wrote.

BVU News and Trends October 2018

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

BVU News and Trends September 2018

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

Restricted services re: QBI deduction

In last week’s BVWire, we mentioned that the new tax law’s 20% “qualified business income deduction” (QBID) for pass-through entities (PTE) is not allowed for those providing certain services and included in the list was insurance (under “brokerage services”).

Get-around to the QBI deduction restrictions

The IRS recently issued proposed regulations explaining the new tax law’s 20% “qualified business income deduction” (QBID) for pass-through entities (PTE).

IRS issues long-awaited QBI deduction guidance

The IRS has issued proposed regulations explaining the new tax law’s “qualified business income” (QBI) deduction for pass-through entities (PTE).

BVU News and Trends August 2018

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

QBI guidance due out end of July

U.S. Treasury Department rules outlining which pass-through entities can claim the new 20% qualified business income (QBI) tax deduction are expected by the end of July, according to a report in AccountingToday.

New study predicts ‘mass’ conversion from PTE to C corp

A new study by Penn Wharton predicts a “mass conversion” of pass-through businesses to C corporation under the Tax Cuts and Jobs Act.

How New QBI Deduction Impacts the Hypothetical Buyer and Seller, Part 2

Part 2 of a two-part article on the impact of the new tax law’s Qualified Business Income (QBI) deduction for pass-through entities in determining estimated after-tax cash flow at the investor level, as well as the related change in the fair market value of the entity.

BVU News and Trends July 2018

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

Checklist for Initial Information Request to Analyze Replacement Compensation

The Tax Cuts and Jobs Act (TCJA) will trigger much greater scrutiny on what constitutes reasonable compensation for owner-employees of pass-through entities (PTEs).

Flowchart seeks to sort out QBI

Arguably the most puzzling provision of the Tax Cuts and Jobs Act is the New IRC Code Section 199a, which allows a 20% write-off of “qualified business income” (QBI) for sole proprietors, owners of S corporations, and members of partnerships/LLCs.

Valuing an S-corporation? Ten books and articles you absolutely should read

View a list of essential reading for business appraisers preparing to value an S corporation, from valuation expert and former IRS territory manager, Michael Gregory.

Internal IRS memo unearthed re: S corp valuations

During a webinar, Michael Gregory (Michael Gregory Consulting LLC) discussed an internal IRS memo he recently obtained via a Freedom of Information Act (FOIA) request that has implications for valuing noncontrolling interests in S corps.

Q&As on the Impact of the 2017 Tax Act on Business Valuation

Chris Mellen (Valuation Research Corp.) adds to the evolving discussion about the impacts of the new tax law on business valuation. Part of a series.

Tax Reform Puts Broader Spotlight on Reasonable Comp

Ron Seigneur and Kevin Yeanoplos, the co-authors of a guide on reasonable compensation, explain how tax reform has put more focus on the matter.

How the New QBI Deduction Impacts the Hypothetical Buyer and Seller

Part 1 of a two-part article on the impact of the new tax law’s Qualified Business Income (QBI) deduction for pass-through entities in determining estimated after-tax cash flow at the investor level, as well as the related change in the fair market value of the entity.

Re: Comments Concerning S Corp Tax-Affecting Article

Comments on the response from James Alerding to an article on tax affecting S corps, which appeared in the December 2017 edition of Business Valuation Update titled “Tax Affecting S Corporations: It’s Not a Matter of Whether. It’s a Matter of When.”

Michigan court explains treatment of S corp’s retained earnings in divorce

The overarching issue in a recent Michigan divorce case was appreciation. Did the nonowner spouse (wife) have a right to a portion of the increase in value of her husband’s separate property, an S corporation? A related issue, and one that posed a question of first impression in Michigan, was how to treat the company’s retained earnings.

Valuing C Corps and Pass-Through Entities Under the New Tax Law

On December 22, 2017, President Donald J. Trump signed into law the Tax Cuts and Jobs Act of 2017 (the “Act”). The Act is the most comprehensive tax reform package since the Tax Reform Act of 1986. The Act contains sweeping changes to corporate and individual tax rates, deduction limitations, foreign income taxation, and the tax treatment of pass-through entities (PTEs) such as S corporations and limited liability companies. In this article, we will discuss ...

Valuation Experts Give Initial Thoughts on Tax Reform

Valuation experts were asked for their initial impressions on what to consider when doing valuations under the Tax Cuts and Jobs Act. This will be an evolving discussion.

A Response to an Article on S Corp Tax Affecting

This is a response to “Tax Affecting S Corporations: It’s Not a Matter of Whether. It’s a Matter of When,” written by Alan S. Zipp, that appeared in the December 2017 issue of Business Valuation Update.

2018 Tax Cuts and Jobs Act: Impact on Valuations of C Corps and Pass-Through Entities

The Tax Cuts and Jobs Act impacts the federal tax treatment of C corps, pass-through entities, and their respective ownership interests, and these changes will affect both the conduct of business valuation and the values of businesses and equity ownership interests. The Tax Cuts and Jobs Act contains temporary changes in the individual income tax rate structure, “bonus depreciation,” limitations on state and local tax (SALT) deductions, and “qualified business income” deductions for certain PTEs.

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