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Every week we bring you featured industry articles pertaining to specific industry niches. These articles also appear in their respected categories in addition to the featured category. Expect three new featured articles per week.

R.D. Clark and Sons, Inc., et al. v. James Clark, et al.

Connecticut Appellate Court Affirms Trial Court’s Decision Not to Tax-Affect Earnings In a dispute over the buyout of the minority shares in a family business, the Connecticut appellate court addressed several important valuation issues. Notably, the appellate court upheld the trial court’s decision not to tax-affect the company’s earnings in determining the fair value of the shares, even though both the pl ...

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How Not to Use Duff & Phelps Data

A Discussion of Rover Pipeline, LLC v. 10.55 Acres of Land, More or Less, in Ashland County, Ohio, et al. “In God we trust. All others must bring data.” This famous saying has been attributed to various people, but it implies that when data is presented, the conclusion can be trusted. However, the Ohio District Court’s decision in Rover Pipeline, LLC v. 10.55 Acres of Land, More or Less, in Ashland County, ...

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How to Use Keywords in Your Blog Post

Beyond Keyword Placement—An Illustration for Search Engines to Find You In previous QuickRead articles, the author discussed the role blogging can play when marketing a firm’s services. When relevant articles are written and posted on a website, those articles can be found by prospects who are looking to solve a business challenge. But to ensure that blog posts are discovered, one needs to optimize them by ...

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Are You a Modern-Day Digital Sharecropper?

Or, Why Aren’t You Hosting Your Own Content? (Part I of III) Many of us create content for, and market on, social media platforms—like LinkedIn, YouTube, Facebook, and Twitter. The questions are: Is this a dangerous practice? And if so, what should we be doing instead? Many of us create content for, and market on, social media platforms, like: LinkedIn, YouTube, Facebook, and Twitter. The questions are: Is ...

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A Valuation Practitioner’s Musings

on Corporate Income Taxes What corporate tax rate should valuation practitioners use going forward given the current environment? Despite corporate rates being “permanent”, is that so?! How should practitioners handle temporary differences? How do we decode a financial statement? In this article, the author shares his thoughts on how valuation professionals should approach a valuation engagement in this unc ...

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Writing a Blog Post

In Nine Easy Steps You have probably heard how helpful it can be to write blogs, either for yourself or your valuation and accounting firm. If you have never written one, the challenge can seem daunting. But you probably will find it easier than you think—especially if you follow these steps. The article outlines the steps; these are based on a How-To Guide from Hinge University, their online learning platf ...

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The Expert Witness Exchange: Car Rentals, $16 Million

and an Expert Witness While there are hundreds of Daubert decisions issued every week, only a few go a long way in shaping the way experts are screened by judges in the future. And even fewer times, a multimillion-dollar verdict is hinged solely on the expert witness testimony! In this article, the author discusses the district and appellate court decision in Alaska Rent-A-Car v. Avis Budget Group. ...

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Case Law Update

December 2018—U.S. Tax Court on Qualified Appraisals and Gill v. Gill, Minnesota’s Supreme Court Rules on the Status of Earn-Outs in Dissolution Cases The U.S. Tax Court issued two valuation memorandums in September and October 2018. Each memorandum serves as a reminder of the importance of attaching a qualified appraisal. The issue in Presley v. Commissioner, T.C. Memo. 2018-171 (October 15, 2018) was whet ...

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Do Candidates Find Your Employer Brand Attractive?

NACVA Member Survey Findings on Employee Recruitment and Retention Hinge Marketing recently completed a NACVA member survey. In this survey, Dr. Frederiksen learned that NACVA members sought to improve recruiting and retention in their firms. These were the two highest. In addition, gathering insights about how firms approach these challenges, we also asked employee-candidates how they search for and evalua ...

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Personal Goodwill

The Value of a Business is Not Always What it Seems (Part II of II) Personal goodwill is taxed at the individual capital gains tax rate, not the higher corporate income tax rate. Therefore, a credible personal goodwill calculation can amount to significant tax savings. One that is not adequately defensible invites risk of an audit. Every personal goodwill calculation is unique to each business, and the mana ...

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Personal Goodwill

The Value of a Business is Not Always What it Seems (Part I of II) Personal goodwill is taxed at the individual capital gains tax rate, not the higher corporate income tax rate. Therefore, a credible personal goodwill calculation can amount to significant tax savings. One that is not adequately defensible invites risk of an audit. Every personal goodwill calculation is unique to each business, and the manag ...

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Valuation of Compensation for Physician Services

Physician On-Call Services This article focuses on physician on-call services and issues that valuation professionals must anticipate and consider in such an engagement. The article is a distillation of an in-depth article published in The Value Examiner July/August 2017 issue. In that issue, the authors also discuss classification and valuation of compensation for physician services and valuation of medica ...

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The Economic Balance Sheet

and its Application to Enterprise Valuation The value of a firm must equal the value of the claims on its assets. In practice, this is generally expressed as the value FIRM = value DEBT + value EQUITY. Similarly, in a balance sheet prepared in accordance with generally accepted accounting principles (GAAP), assets = liabilities and equity. By comparison, an economic balance sheet is constructed using market ...

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Preventing Case Over Valuation

Why Attorneys Tend to Overvalue Their Cases and What to Do! Research indicates that most lawyers over value their cases, and what is even more fascinating, it does not matter how long the attorney has been in practice! There are a number of reasons over valuation occurs; sometimes the answer is just that the attorney did not spend enough time reviewing the case, or failed to consider getting a second opinio ...

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Business Valuation and Reporting in Matrimonial Disputes

Adherence to Development and Reporting Standards in Family Law Litigation Family law practitioners deal with a host of complexities when resolving matrimonial disputes.  In high net worth cases, financial considerations soon become paramount.  Often the largest financial asset on the marital balance sheet is an interest in a closely held business controlled and operated by the family or single spouse.  In t ...

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Exelon Corp. v. Commissioner

A Decision that Illustrates the Importance of Appraiser Independence To successfully work in the field of business valuation, appraisers must perform assignments with impartiality, objectivity, and independence, and without consideration of personal interests or the interests of those who hired them. Should such bias be found, the appraisal could be considered worthless and the expert’s reputation damaged, ...

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Estate of Powell v. Commissioner, 148 T.C. No. 18 (May 18, 2017)—A Failed Deathbed FLP

and other Court Cases for Valuation and Litigation Support Professionals Valuation practitioners may want to spend a few hours reading a recent U.S. Tax Court case where the valuation of intangible assets was squarely addressed. This QuickRead article highlights the facts and three issues addressed in the decision. ...

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FinTech—Origins and Prognosis

Greater Disruption and Change Awaits the Financial Services Industry FinTech, or financial technology, has disrupted the financing industry. The FinTech revolution has not only changed the financial services industry, but it has also changed specific sectors, including: retail banking, lending and financing, payments and transfers, wealth and asset management, markets and exchanges, insurance, and blockchai ...

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