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Cyborg or Human?

Refreshing Our Vision for Our Work Appraisal is one of the oldest and most universal human habits. Humans have been appraising since the beginning of time. Appraisal is also a uniquely human habit requiring a spectrum of skills and thought processes that are not found in nature or machines. While often impugned for being faulty and having a variety of biases, our ability to “appraise,” assess, form judgment ...

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Legal Update

People of the State of New York v. Donald J. Trump et al. The recent lengthy court opinion in People of the State of New York v. Donald J. Trump et al., provides a cautionary tale to aspiring damages expert witnesses. In this article, Michael Molder synthesis the factors that persuaded and dissuaded the judge. It is axiomatic in the civil justice system that everyone is entitled to present their case as the ...

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Practice Interruption, Exit Planning

and Contingency Recommendations This article is authored by two Litigation Forensics Board members who have also created a survey to help practitioners with the process of exit planning. Have you thought about what will happen when you exit your current position or consider selling your practice? Here are some questions to ask yourself: https://www.surveymonkey.com/r/LFBSurvey. Now that awareness has been c ...

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What is Your Winning Difference?

Any service can be replicated, leaving only the execution as a true differentiator. And your difference—your winning difference—is the reason people do business with you and not someone else. It sets you apart and makes you the best choice for your ideal client. The author shares three ways to find your winning difference. Any service can be replicated, leaving only the execution as a true differentiator. A ...

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OPPS Final Rule Issued by CMS

The Impact on Payment Rate Updates, Hospital Price Transparency, Rural Hospital Designation, Drug Pricing, and Intensive Outpatient Program On November 2, 2023, the Centers for Medicare & Medicaid Services (CMS) released its finalized Outpatient Prospective Payment System (OPPS) for calendar year (CY) 2024. The finalized payment update increases payments to outpatient facilities and finalizes changes to ...

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When Seeing is Believing

Part IV in a Series Addressing Advances in Forensic Accounting and Financial Forensics The increasing amount of data is daunting. Managing and making sense of the vast amount of information is paramount to professionals. In this article, the author shares how he has managed those first impressions and found value using AI and software to understand the information deluge. In the 1990s, the Rubik’s cube craz ...

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New Frontiers in Financial Forensics

Part III in a Series Addressing Advances in Forensic Accounting and Financial Forensics Those working to manage valuations and investigate fraud are seeing the impact of two trends that emerged in 2023: an increasingly tight labor market and the advancement and adoption of new technologies. The reality is as we enter 2024 and the workforce continues to shrink, the implications of these new technology innova ...

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Adding Success Fees to Starting the Exit Planning Conversation

NACVA/CTI BVFLS Conference Presentation Summary This article is a review of a session involving exit planning that was covered in a highly interactive, standing-room-only session from the NACVA/CTI BVFLS Conference in Fort Lauderdale, FL on December 14, 2023. This article is a review of the topics covered in the highly interactive, standing-room-only session from the NACVA/CTI BVFLS Conference in Fort Laude ...

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Corporate Transparency Act and Beneficial Ownership Interest Reporting Requirements

Who Really Owns the Company!? Have you heard about the Corporate Transparency Act (CTA) Beneficial Ownership Interest Reporting (BOIR) requirements? The penalties for non-compliance are $591(adjusted for inflation) a day up to $10,000 and/or two years in jail. This article outlines the requirements for small private companies and ends with some suggestions for business valuation analysts. Have you heard abo ...

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Understanding IPCPL Theory, Evidence, and Application

Use in Private-Business Valuation (Part II) This article in this continuing series explains the Implied Private Company Pricing Line (IPCPL), theory, evidence, and application of the IPCPL. How to Understand IPCPL Theory In the first article in this series (published in two parts 02/01/24 and 02/08/24), it was shown that the Implied Private Company Pricing Line (IPCPL) theory explains and predicts the relat ...

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To Be Certified or Not Certified

The Tax Court Says Certified A recent Tax Court opinion brought to light the importance of having an appraiser designation from a professional appraiser organization. While the decision is limited to Tax Court cases, it provides a cautionary tale for all who provide business appraisals in litigious situations. A recent Tax Court opinion brought to light the importance of having an appraiser designation from ...

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What the Tax Court Wants to See

In Your Expert Report This article includes tips for preparing an expert report but is not intended to be all inclusive. In addition to these points, remember to carefully consider professional standards, including those that are non-binding, and any code of ethics. Also prepare your report with the expectation of a Daubert motion or similar challenge to your qualifications and/or methodology. The Federal R ...

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MPFS Final Rule Cuts Physician Payments

Praise and Patient Access Concerns Raised from the Cuts On November 2, 2023, the Centers for Medicare & Medicaid Services (CMS) released its finalized Medicare Physician Fee Schedule (MPFS) for calendar year (CY) 2024. While the finalized fee schedule cuts payments to physicians, there are a number of other (more positive) provisions in the final rule. An update to the September 2023 article on the prop ...

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The Predicament of a Generalist (and Why You Need to Specialize)

In this article, the author shares his views on why it is incumbent to become a specialist. I want to lay this out right up front: The primary reason to specialize is that it is in the best interest of the clients we serve. It allows us to focus solely on them, truly care about them, patiently learn more about them, and create more value based on what they know they need (or what we know they need) … becaus ...

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The Power of Intention

How to Manifest a Better, More Fulfilling Valuation Practice Several months ago, a friend of mine gifted the article’s author a book entitled The Seven Spiritual Laws of Success: A practical guide to the fulfillment of your dreams, written by Deepak Chopra. A few of the sections within the book hit home more than others and the excitement that has inspired the author to write the article herein. The author ...

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Understanding IPCPL Theory, Evidence, and Application

Use in Private-Business Valuation (Part II of II) This two-part article in this continuing series explains the implied private company pricing line (IPCPL). Read Part I here. IPCPL explains and predicts how buyers and sellers of capital assets in private markets set risk-adjusted discount rates under conditions of non-zero transaction cost differentials between public and private markets; and, accordingly, ...

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Amended Rule 702’s Unimpeachably Neutral Impact

The Death of Testimonial Overstatement The proper interpretation for the standard of admissibility under the amended Rule 702 of the Federal Rules of Evidence will hopefully result in an evidentiary change that flies in the face of every hired gun’s essence, as the real impact of the trial court truly being a gatekeeper is that it will shield the jury from the testimonial overstatement salaciously proffered ...

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Understanding IPCPL Theory, Evidence, and Application

Use in Private-Business Valuation (Part I of II) This two-part article in this continuing series explains the implied private company pricing line (IPCPL). IPCPL explains and predicts how buyers and sellers of capital assets in private markets set risk-adjusted discount rates under conditions of non-zero transaction cost differentials between public and private markets; and, accordingly, IPCPL explains and ...

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Legal Update: Rosenthal v. Erber

Rosenthal v. Erber illustrates the pressure and perils of dueling experts. The expert is charged with assisting the court ascertain the facts, rather than furthering the client’s ambition. The case is a reminder to business valuation professionals that ethical considerations are paramount and that doing the contrary leads to courts’ suspecting the role of experts in the process. In the main, valuation exper ...

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Why Business Valuation is Heating Up for Estate and Gift Tax Planning Purposes

Forthcoming Changes in Gift and Estate Tax Thresholds In the complex world of gift and estate tax planning, significant changes are on the horizon. The 2026 sunset, a date circled in red on the calendars of tax professionals and high-net-worth individuals, potentially signifies the end of the current, more generous tax-free lifetime estate and gift tax thresholds. The authors share their thoughts on how the ...

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