Currency Investment Scams Step aside e-mail compromises and romance scams. Make way for the crypto investment scam, the newest in an ever-changing sea of schemes and scams available on the World Wide Web to minimize your life savings in as little as a few weeks. This article is a refresher for traditional indicators beyond the “too good to be true” mantra and will detail the slight modifications occurring within this new iteration of attempts to separate folks and their money. There are 12 common investment fraud scheme indicators to recall. These may occur prior to a potential victim engaging in…
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The Use of Hypotheticals to Illustrate What Is Known or Knowable In valuation, the concept of “known or knowable” refers to events or circumstances that are (or are not) known or able to be known as of a specific date. This concept is important in the valuation process because every valuation is performed as of a particular point in time, which is referred to as the valuation date. Because the valuation process is typically completed after the effective valuation date, there may be events or circumstances that could impact value which take place after the valuation date. This article presents…
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Reasons for the Recommendation and Responses On March 15, 2023, the Medicare Payment Advisory Commission (MedPAC) published its annual Report to Congress regarding the status of the Medicare program. Among other areas, the report detailed policy recommendations for the Medicare fee-for-service (FFS) payment systems, the Medicare Advantage (MA) program, and the Medicare prescription drug program (Medicare Part D). This article will review the recommendations made by MedPAC and responses from industry stakeholders. On March 15, 2023, the Medicare Payment Advisory Commission (MedPAC) published its annual Report to Congress regarding the status of the Medicare program.[1] Among other areas, the report…
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Steps to Immediately Take Before Focusing on Marketing In this month’s article, Rod Burkert details six positioning and marketing blunders too many appraisers are making with respect to building and growing a BVFLS practice. I just passed the seven-year milestone of launching my coaching career. And I have to say (as someone else has previously said), “I know a thing or two because I have seen a thing or two.” Here are six positioning and marketing blunders too many appraisers are making with respect to building and growing a BVFLS practice. Not Differentiating (Branding) Themselves Most consumers of BVFLS services…
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An Unimpeachable Cure for Delusive Exactness This 15th article of the unimpeachable neutrality series discusses the pathology, symptoms, and treatment for a bad case of delusive exactness. Delusive exactness affects thousands of financial experts every day and can be fatal to a case if left untreated. On balance, delusive exactness, as described herein, refers to the testimonial delirium exhibited by a financial expert witness that overstates the strength of their conclusion of damages or value beyond that which can or should reasonably be drawn from the application of the methods, data, or sources of information relied upon, considered, or applied…
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Post May 23, 2023, Developments Regarding Telehealth and Waivers Regardless of whether certain COVID-19 era waivers and flexibilities are made permanent, providers will be hard pressed to move away from what has become common practice over the past three years. A Premier Inc. survey of hospitals and non-acute providers found that 69% of respondents were still leveraging these waivers and flexibilities as of January 2023. While 80% of respondents have a plan in place to unwind their reliance on the waivers. Regardless of whether certain COVID-19 era waivers and flexibilities are made permanent, providers will be hard pressed to move…
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A Primer on the Tax Law Issues Years ago, “golden parachute” payments were fully tax deductible by the employer if they were “ordinary and necessary” business expenses under Internal Revenue Code § 162. However, due to controversy over large executive pay packages, the Tax Reform Act of 1984 added § 280G to the Internal Revenue Code. This article discusses planning and tax deductibility issues under the current law. Golden parachute arrangements typically provide for large cash payments to a corporation’s key executives if those individuals are terminated due to a change in the control of the company. Years ago, these…
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(Part II) To look to the future of the BV profession, we must explore the relevant dynamics within the industry. That starts with looking to our past to see what events and milestones brought us to where we are today, followed by ascertaining the economic and demographic trends leading us into the future, and culminating with identifying those trends which will have the greatest impact upon the profession. NACVA set upon drafting a white paper that would provide valuable insight to the future of the business valuation profession, with Chris Mercer taking the lead who is known by nearly every…