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Do Not Be Too Quick to Discount

A Discount for Controlling Interests This article examines studies and judicial decisions addressing the use of DLOMs where there are controlling, 100% ownership interests, followed by review of a recent client assignment that illustrates the importance of being well versed with the valuation theory in this area. ...

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Case Law Update

Revenge Porn, Ugg, VirnetX, and Apple This case law highlights a number of patent, copyright, and business valuation cases litigated in the first quarter of 2018. The revenge porn case highlights a distressing but potential opportunity for litigation support professionals. The VirnetX v. Apple and Deckers Outdoor Corporation v. Romeo & Juliette, Inc. cases highlight the perils of patent litigation and f ...

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Engagement Letter Stories—When They Hurt and When They Worked

As a risk management professional at CNA, professional liability insurance carrier for nearly 25,000 CPA firms, I am often asked if engagement letters are worth all the effort.  The answer, based on my personal and CNA’s claim experience, is a resounding YES!  I’ve experienced firsthand the value these letters bring to the table. To read the full article in AICPA, click: Engagement Letter Stories—When They ...

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New Tax Law, More Business for Financial Advisors

Soon after President Trump signed the bill, some wealthy clients who owned businesses needed to know if they could save on taxes by buying manufacturing equipment in 2017.  Others needed advice on whether to pay state income tax by Dec. 31 if they were not subject to the alternative minimum tax. To read the full article in FinancialPlanning, click: New Tax Law, More Business for Financial Advisors. ...

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FASB Addresses Stranded Income Tax Effects of New Tax Law

Under the new FASB rules, financial statement preparers are provided an option to reclassify stranded tax effects within accumulated other comprehensive income in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. To read the full article in the Journal of Accountancy, click: FASB Addresses Stranded Incom ...

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Federal Circuit Provides Guidance

On Patent Damages and Apportionment In two recent cases, the U.S. Court of Appeals for the Federal Circuit provided important guidance when applying apportionment principles to calculate reasonable royalty damages.  See Finjan, Inc. v. Blue Coat Systems, Inc., 879 F.3d 1299 (Fed. Cir. 2018); Exmark Mfg. Co. v. Briggs & Stratton Power Products Group, LLC, 879 F.3d 1332 (Fed. Cir. 2018).  The Federal Circ ...

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How AI, Blockchain, and Automation Will Reinvent Accounting

The accounting profession sits on the cusp of unprecedented change.  Transformative technologies will reshape virtually every corner of the accounting world.  For CPAs to survive and thrive, they will need to learn—and unlearn—on a scale and at a pace that can seem overwhelming.  To help CPAs prepare, the JofA gathered three of the profession’s top technology experts for its annual accounting technology rou ...

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Ten Key Findings: Sexual Harassment in the Professional Workplace

This article highlights a broad, industrywide study of the impact and implications of sexual harassment across professional communities, including banking, payments, mortgages, financial advisory, accounting, health care, employee benefits and capital markets (including municipal finance and M&A advising). To read the full article in FinancialPlanning, click: Ten Key Findings: Sexual Harassment in the P ...

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No One’s Sure Who Qualifies for this $415B Tax Deduction

Congressional Republicans created a juicy new tax break for clients when they rewrote the U.S. tax code late last year.  Three months later, hundreds of thousands of them still do not know if they qualify.  The IRS has said it will provide guidance detailing exactly who is allowed to take the so-called pass-through deduction.  With billions of dollars at stake, business groups are lobbying for the agency to ...

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