Conservation Easements, Attempts to Dissolve a NY LLC, and Valuation of Law Practice The U.S. Tax Court has issued a limited number of valuation cases this past summer. In this article, one U.S. Tax Court case presented is Harbor Loft Associates v. Commissioner. The case underscores that lessees cannot claim a charitable deduction for a conservation easement. The second case discussed is Matter of Goyal v. Vintage India NYC, LLC, which serves to reiterate the importance of executing an operating agreement and shows how difficult it is to unwind and dissolve an LLC in New York State and jurisdictions that…
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Valuation professionals must continually keep abreast of the latest news and developments. Whether it’s the latest Internal Revenue Service (IRS) ruling, a new, wide-ranging court decision, or newly issued standard, trying to stay on top of it all—while managing a practice—can pose a significant challenge. But as Nancy Gault recently learned at NACVA’s Annual Consultants’ Conference, Around the Valuation World in 90 Minutes, offers time-strapped practitioners an ideal solution: a monthly webzine-style summary of the latest news, trends, and issues in the BV and financial forensics profession delivered in 90 minutes. Learn more.