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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.

Excessive Government Spending

Are We Heading Towards the Next Financial Crisis? (Part II of II) In this second part of the two-part article, the author, a valuation professional and trained economist, shares his thoughts on whether we are headed towards another financial crisis. Here, he shares his views on the size of the U.S. debt, low interest rates and whether the low interest environment is sustainable, and what he sees are solutio ...

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Excessive Government Spending

Are We Heading Towards the Next Financial Crisis? (Part I of II) In this two-part article, the author, a valuation professional and trained economist, shares his thoughts on whether we are headed towards another financial crisis. (The views expressed in this article are solely those of the author, QuickRead invites its readers to respond or submit an article of their own on this important topic.) ...

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Three Ways to Attract New Clients

Identifying the Subject Matter that You Will Speak, Write, or Talk About Finding new clients is the work nobody really wants to do. Nevertheless, it is essential for survival. Since you have to do it anyway, how can you optimize your return on effort? In this article, Dr. Frederiksen shares what the research reveals. ...

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Mr. Unlucky—A Construction Worker Injured Twice On-site

Tell-tale Signs that the Engagement is Risky This article describes, using a purely hypothetical scenario, some of the considerations that an economic damages expert should be aware of during initial telephone calls with a prospective retaining counsel—in order for a lost earnings engagement to proceed effectively and efficiently—and to control engagement risk. ...

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FASB Issues New Standard for Lease Accounting

Expanding the Lessors Qualitative and Quantitative Disclosures In February 2016, the FASB issued Accounting Standards Update (ASU) 2016 – 02, Leases (Topic 842). The existing standard has been criticized because its bright line classification criteria enabled entities to structure leases in such a way as to avoid putting them on the balance sheet. The standard aims to improve and simplify the financial repo ...

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Estate of Woelbing

Settlement of a Valuation Case Before the U.S. Tax Court This article discusses issues found in a case that is pending before the United States Tax Court (the “Tax Court”).  The specific issues relate to issues regarding sales of closely held stock to grantor trusts in exchange for promissory notes.  Specifically, the IRS took issue with two grantor sale trust transactions.  The two cases were filed on Dece ...

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U.S. Tax Court Update

Notable 4th Quarter 2015 Cases, Part II of II Part II of this article highlights the remaining notable 4th Quarter 2015 U.S. Tax Court Cases that will be of interest to valuation practitioners and business advisors.  Estate of Purdue reminded us that taxpayers need to address 2036(a) concerns and establish a non-tax reason.  In addition, the case reminds us that gifting an equity or LLC interest may not qua ...

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Interviewing Skills and Techniques

Effective Interview Planning in a Fraud Investigation This article is a republication of Chapter 10 of The Corporate Fraud: The Executive’s Survival Guide, authored by Ray Dunkle of Red Flag Reporting. This article features the chapter written by James I. Marasco, CPA, CIA, CFE. In this chapter, Mr. Marasco addresses the proper approach for conducting interviews. This includes what type of questions to ask, ...

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U.S. Tax Court Update

Notable 4th Quarter 2015 Cases, Part I of II Part I of this article highlights notable 4th Quarter 2015 U.S. Tax Court Cases that will be of interest to valuation practitioners and business advisors. Estate of Purdue reminds us that taxpayers need to address 2036(a) concerns and establish a non-tax reason. In addition, the case reminds us that gifting an equity or LLC interest may not qualify as a present i ...

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Stark Realities Continue

The Compensation-Productivity Nexus Affiliate employer agreements that do not involve designated health services may not be subject to Stark Law. However, where there is an ownership nexus—shared parent or direct subsidiary—between the hospital and affiliate employer, regulators may be able to find Stark Law violations. As governmental agencies drill down well beyond simple compensation comparatives, into t ...

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Evaluating the Valuation Expert

Challenges and the Emergence of Peer Review Judges are often required to pick apart complicated expert analysis to assess the validity and reliability of an expert’s work when its admissibility is challenged. But in the professional domain, we would not expect a tax auditor to be able to analyze a report on macroeconomic theory. Why, then, do we ask courts to perform these analyses in fields from accounting ...

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Can Forensic Experts Overcome Their Biases?

Is Recognizing Cognitive and Motivational Biases Enough? The National Academy of Sciences reported that bias is a severe problem in forensic sciences. Cognitive biases were described as, “common features of decision making, and they cannot be willed away.” Is recognizing bias, alone, sufficient to address cognitive, motivational or other biases? What can a forensic expert do to avoid the bias trap? In this ...

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Book Review—A Consensus View Q&A Guide to Financial Valuation

Hitchner, Pratt, and Fishman Answer the Call In the past month, business valuation professionals have read reviews from a number of practitioners serving as reviewers for the Q&A Guide. All of them are positive. In this book review, we go into a little more detail and discuss what these established and accomplished business valuation professionals and leaders answer in the Q&A Guide. So, what does t ...

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Forward Citation Analysis as a Means to Apportion Relative Value in Patent Infringement Cases

Correlating Patent Values with Prior Citations What is forward patent citation? Why is it relevant? In this article, the author answers the above questions and details how these may be relevant to a damages expert in a patent infringement matter. These experts may need to ascertain the value attributable to the patented technology at issue. While comparable license agreements may serve useful in providing a ...

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Estate of Purdue v. Commissioner

T.C. Memo. 2015-249: A Checklist to Address 2036 Concerns The issue raised in Estate of Purdue v. Commissioner was whether the “decedent’s desire to have the marketable securities and the building interest held and managed as a family asset constituted a legitimate non-tax motive for the transfer of property to PFLLC.” ...

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