Valuation and Planning Impacts This article outlines the major provisions of the proposed regulations. If the proposed regulations are adopted in their current form, they only apply to transfers made after the final regulations are promulgated, and the most pervasive provisions of the proposed regulations, apply only to transfers made at least thirty days after the restrictions become final.
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Can Effect the Outcome of a Case One of the most critical decisions practicing attorneys have to face is the selection of a forensic accountant. The specialized training and expertise of forensic accountants and the role they play, either as consultants or as expert witnesses, can make the difference in the final outcome of a case. However, it is critical that the right person with the right expertise, training, and background be selected. This article will describe the various areas of specialization in which a forensic accountant performs, how to select the right professional for the job, and the benefits…
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Many Americans Suffer From Financial Anxiety Americans are becoming steadily more worried about their finances, and 85% of those participating in a recent Northwestern Mutual study said they are experiencing some kind of financial anxiety, explains Sean Williams. About two-thirds of those surveyed said the problem has reached the point that anxiety is hurting their health. To read the full article in The Motley Fool, click: The 13 Biggest Financial Fears of Americans.
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Worker Classification in the Gig Economy With one-third or more of Americans working as freelancers, the traditional factors for classifying workers as employees or independent contractors are becoming obsolete. Here’s what tax practitioners need to know about changing employment relationships in the gig economy. To read the full article in The Tax Adviser, click: Worker Classification and the Evolving Service Delivery Model.
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Part 1 of this series offered an overview of observed transaction premium data (from the 2016 Mergerstat Review) for acquisitions of public companies. That post also deliberated on one of five common avenues to incremental economic benefits that motivate market participants to transact. Part 2 walks through the four remaining variations on the incremental economic benefits theme, and offers some concluding thoughts on how to incorporate this sort of analysis into fair value measurements. Travis W. Harms, Mercer Capital Financial Reporting Valuation Group lead, explains the analyses and discusses his views. To read the full article in Mercer Capital’s Financial…
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Add Value and Differentiate Your Business Valuation Practice In this article, Dr. Sheeler issues a personal challenge to credentialed business valuation professionals. Dr. Sheeler challenges credentialed professionals to be more introspective and become more relevant in a market where commoditization does not enable clients and end users to understand the value professionals can and should bring. Dr. Sheeler adds that this realization has led him to write a Wiley Finance book called Equity Value Enhancement (EVE) and dig deep into the acronym GRRK. GRRK stands for Governance, Relationships, Risks, and Knowledge. Each is intangible, but their influence is very concrete…
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Income of Partners and Owners of Pass-through Entities (Part II of II) This is the second part of a two-part article where the author discusses the methodology for assessing the lost earning capacity of a self-employed person. This article provides an overview for analyzing the lost earning capacity of the self-employed and discusses why this category of work provides unique assessment situations. In this second part, the author discusses how to address fringe benefits, worklife, mitigation, the value of a business.
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What’s the Best Way to Manage Big Data? Companies disagree about whether chief financial officers, chief information officers or other individuals should be in charge of big data analysis, according to a report by Mu Sigma. Forty-four percent of respondents say they use a centralized approach to big data management, but some companies use an individual or federated model. James Bourne explains. To read the full article in CloudTech, click: Who Should be in Charge of Big Data Analytics: the CIO, CFO, or a Specialist?
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Retired CPAs Share Retirement Advice The transition into retirement can be challenging for CPAs who have grown accustomed to the daily routine and demands associated with the accounting profession. Maria L. Murphy, freelance writer, discusses seven tips from accountants who have successfully transitioned for making the most of life after work. To read the full article in the Journal of Accountancy, click: Retirement Tips from Retired CPAs.
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The consistent theme of the Appraisal Foundation’s exposure draft The Measurement and Application of Market Participant Acquisition Premiums is that acquirers do not value control for its own sake, but rather for the tangible economic benefits that can be achieved by the exercise of control. Travis W. Harms, Mercer Capital Financial Reporting Valuation Group lead, explains the analyses and discusses his views. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Five Variations on a Theme: Analyzing Transaction Premium Data (Part 1). This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. …
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Advise for Budding and Experienced Experts The third edition of The Comprehensive Guide to Lost Profits and Other Commercial Damages is marked departure from the prior editions. This two-volume set is replete with valuable information and insight from experienced practitioners.
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Income of Partners and Owners of Pass-through Entities (Part I of II) This is a two-part article where the author discusses the methodology for assessing the lost earning capacity of a self-employed person. This, basically, is the same as that for a traditional wage and salary worker. Even though the methodology is the same, assessing the data for the self-employed is different. The loss calculations are not just based on W-2’s or payroll stubs as may be used for traditional wage and salary employees. Data from differing Internal Revenue Service forms used for reporting business income must be reviewed. In…
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Tackle the Clutter, but Keep the Good Stuff: 3 Tips for Saving Keepsakes Decluttering has never been more in vogue. Eliminating extra stuff rewards you with clear shelves and even a clearer mind. But before you hit delete or put it in the trash bin, Ann Marie Maloney, communications manager at AICPA, says consider these suggestions for what to keep and how to keep it so you can still enjoy it (and identify it) years later. To read the full article in AICPA, click: Three Things to Keep When you Tackle Clutter.
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New Accounting Rules Could Encourage use of Derivatives Changes to accounting rules for derivatives may prompt companies to start using reasonable derivative-based risk-management tools, said Jim Kroeker of the Financial Accounting Standards Board. Kroeker suggested this was one possible benefit of FASB’s proposal for hedge accounting, which could be issued in September. To read the full article in Bloomberg, click: Will Planned Derivatives Accounting Changes Stem Flow of Restatements, Improve Risk Management?
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Don’t Lose This Important Group of Clients The majority of children who inherit money don’t retain their parents’ advisers. Joe Sicchitano, from SunTrust Bank, discusses how advisers and clients can take several steps to avoid this outcome, such as proactively communicating and working early to establish a relationship. To read the full article in FinancialPlanning, click: Advisers to Clients: Don’t Hide the Wealth.
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Upgrade Your Website to Develop a Measurable Market Advantage What strategies should professional service firms adopt to market their expertise? What impact do online leads have on the bottom line? Where should a firm place premium content? What can a firm do to minimize overt marketing? In this article, Dr. Lee Frederiksen of Hinge Marketing shares six strategies to improve your website, drive traffic, and successfully convert leads.
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You’re In or You’re Out (Part VII of VII) Will your testimony be admissible? Inadmissible? This series was written to help newly minted (and experienced) experts be mindful of Daubert, or a state’s own variation of Daubert or Frye throughout the litigation process. The key points made include: remember to only accept cases that you are qualified for, ensure you have a sound methodology in which to form your opinions before proceeding, know how to clearly articulate that you are sufficiently qualified and that your methodology is relevant and reliable, and work closely with the retaining attorney to respond to…
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Heightened IRS Scrutiny A look into recent Tax Court cases brings to light several issues that are on the IRS’ “radar screen.” Past QuickRead articles have highlighted some of the cases, including Section 2036, or “bad facts” cases. Another hot-button issue for the IRS is the proper treatment of conservation easement charitable contributions. Since 2010, courts have published at least 60 opinions addressing issues relating to conservation easements. Practitioners with clients considering conservation easement contributions, or who are defending conservation easement cases must keep current with the influx of rulings and have a good understanding of how these rulings fit…
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NACVA’s Silver Anniversary Conference NACVA and the CTI’s 2016 Annual Consultants’ Conference held this past June in San Diego, CA was a spectacular assembly of presenters, attendees, exhibitors, candidates, and staff. This one pulled out all the stops, featuring prestigious keynote speakers, engaging training sessions, an assortment of networking opportunities, and many more events to enjoy. It proved to be a truly remarkable Silver Anniversary celebration.
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What You Say and How You Say it Matters (Part VI of VII) Anticipate that opposing counsel will challenge some aspect of the report and suggest flaws notwithstanding the hard work. How you present yourself and testify is of utmost importance. In this article, the author shares her views on how to prepare and address the criticism that will be leveled at you and your report.