Hitchner outlines BV highlights of 2018
During his annual update webinar, Jim Hitchner (Valuation Products and Services) does a rundown of the new need-to-know BV concepts, data, models, and methods.
Court upholds Section 1031 tax ruling, affirming appraisals were unreliable
In 2016, the U.S. Tax Court found for the Internal Revenue Service in a dispute over a series of exchanges that Exelon, the tax payer, designated as section 1031 transactions. The court found these were not like-kind exchanges and expressed dismay over the appraisals the tax payer offered to support its claim for significant deductions.
BVU News and Trends January 2019
A monthly roundup of key developments of interest to business valuation experts.
Tax Court’s Exelon ruling, turning on compromised appraisals, withstands appeal
In 2016, Tax Court Judge Laro ruled on the legitimacy of a series of Section 1031 transactions involving Exelon, an Illinois-based energy giant.
IRS issues proposed regs on business interest limits
The IRS proposed rules that would govern the new business interest expense deduction limit in the Tax Cuts and Jobs Act (TCJA).
More on the alimony deduction
Our coverage of the recent AICPA Forensic & Valuation Services Conference sparked a few comments from readers concerning the elimination of the tax deduction for alimony that becomes effective December 31.
New tax law gets the spotlight at the AICPA FVS conference
BVWire attended the AICPA Forensic & Valuation Services Conference November 5-7 in Atlanta where there were a number of good sessions on the Tax Cuts and Jobs Act (TCJA), which impacts “everything” in valuation.
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.
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.
Appeals Court Upholds Tax Court’s Section 1031 Decision Pivoting on ‘Tainted Appraisals’
Appeals court upholds Tax Court’s ruling that taxpayer’s transactions do not represent section 1031 like-kind exchanges because taxpayer never assumed ownership of replacement plants; improper input from taxpayer’s law firm tainted appraisals used to show otherwise; accuracy penalty is justified.
Exelon Corp. v. Commissioner
Appeals court upholds Tax Court’s ruling that taxpayer’s transactions do not represent section 1031 like-kind exchanges because taxpayer never assumed ownership of replacement plants; improper input from taxpayer’s law firm tainted appraisals used to show otherwise; accuracy penalty is justified.
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).
How does the Tax Cuts and Jobs Act impact business valuation?
Learn how tax reform has impacted the world of business valuation and how to navigate key issues facing business appraisers, including how to adjust pre-Tax Act valuation multiples for post-Tax Act business valuations.
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).
Twelve Practical Ideas From NACVA’s 2018 Annual Conference
There was no shortage of good ideas at the annual conference of the National Association of Certified Valuators and Analysts (NACVA) in Las Vegas this past June.
BVU News and Trends August 2018
A monthly roundup of key developments of interest to business valuation experts.
Tax Reform 2.0 in the works
Republicans from the House Ways and Means Committee released a very top-level outline of their plans for what they call “Tax Reform 2.0.”
Fair Value in 2018: The Impact of the Tax Cuts and Jobs Act
What in business valuation does the Tax Cuts and Jobs Act impact? Everything—including fair value. Join Mark Edwards for a discussion on how NOLs, goodwill, and ASC 805 are all impacted by recent tax law changes. Understand the base erosion anti-avoidance tax provisions and how expensing tangible property impacts your fair value assignments. Be confident in the changes you make for 2018 engagements with a thorough review of your income and market approaches.
Trade war may shift use of tax cut’s windfall
The extra cash flow companies will see from the Tax Cuts and Jobs Act will affect valuation depending on how the funds will be used.