A frequently missed opportunity for appraisers This article provides an overview of some of the complex rules relating to the built-in gains tax. It is intended only to acquaint business valuators with the structure of the tax and some of the key considerations which the business valuator must address. ...

When are “subsequent events” knowable, and what about IRC Sec. 6662(g)(2) penalties? Trout Ranch, LLC v. Commissioner raises additional causes for concern, including subsequent events in appraisal documentation and failures to include them, which may create more valuation penalties on tax filings. ...

Practice techniques used to serve as an effective expert witness In this final part of Mark Shirley’s litigation services series, the focus turns to practical tips for new and experienced expert witnesses. These include what to consider before engaging, how to organize the file, the need to understand the vernacular and preparation, as well as the need to understand the discovery process. Impressions are al ...

On June 4, 2013, Florida Governor, Rick Scott signed HB 7015, joining the Federal Courts and other jurisdictions in adopting the Daubert test for admission of expert testimony. Just weeks ago, Florida followed the Frye Standard which allowed experts to testify if their expertise was “generally accepted” in the field in which it belongs. Many had felt that is allowed “phony science” or strange testimony from ...

Diversify your practice and expand your skillset Valuation analysts can develop the necessary skillset to perform economic damages calculations and construct detailed reports. This is the case despite the differences in how economic damages calculations are prepared vis-à-vis commercial damages calculations. ...

Has the new federal tax regime set forth the grounds to reconsider an ESOP? An ESOP is a qualified retirement plan that can use debt financing to buy company stock from the company’s owner(s). It’s a serious option for any business owner who wants to liquidate some or all of his or her ownership. Martin Staubus reviews how ESOPs work, as well as the benefits they provide to buyers (employees) and sellers (o ...

The financial neutral plays an important role in the collaborative law process One of the team members in the collaborative law process of divorce is the financial neutral. This article explains the role of the financial neutral as an impartial expert. ...

An overview of the Federal Rules of Evidence, Federal Rules of Civil Procedure and leading pre- and post-Daubert cases In this third part of a four-part series, the focus turns to the rules of evidence and standards used to admit the testimony of expert witnesses. While a minority of jurisdictions follows the Frye standard, the majority has adopted the Daubert standard. Objective testimony is critical, whic ...