Valuation of Closely Held Businesses

Legal and Tax Aspects

Author: Lewis D. Solomon,Lewis J. Saret

Publisher: Panel Pub


Category: Law

Page: 397

View: 2823

This handbook analyzes all methods of valuation for all types of closely held businesses in all transactions. the authors lead you through the valuation process, step by step, beginning with the basics and progressing to special considerations. With this comprehensive volume, you will be prepared for the valuation issues that arise when a closely held business is part of Structuring a buy-sell agreement Arranging equitable distribution in a marital dissolution A merger or acquisition Federal estate and gift tax planning Litigation by dissenting shareholders seeking an appraisal remedy Bankrupstcy or reorganization Dissolution or liquidation Whether your work involves traditional business organizations such as corporations, proprietorships, and partnerships or new entity forms such as limited liability companies and family limited partnerships, you'll find this thorough resource offers easy access to specific information. The authors reinforce their explanations with practice and planning pointers, illustrative examples, 'cautions' to alert you to potential problems, checklists, and convenient tables of cases and citations. Save precious time by keeping Valuations of Closely Held Business: Legal and Tax Aspects close at hand.
Posted in Law

Valuation Handbook

Author: Joni Larson

Publisher: LexisNexis

ISBN: 1579114776

Category: Law

Page: 662

View: 8639

Accurate valuation is an absolute prerequisite for any transfer of assets. It provides a buyer and seller with a good starting place to negotiate the terms of a sale. And in an estate setting, accurate valuation is vital when computing federal and state death tax liabilities. But arriving at valuations that are acceptable to all parties can be quite difficult, particularly where the asset is, for example, an ownership share in a closely-held company. Valuation Handbook meets this need by providing a guide to valuation that is comprehensive, up-to-the-minute, and authoritative. Valuation Handbook features: • Coverage of the full range of asset classes-- stocks, bonds, artwork, real estate, intellectual property, and closely-held businesses, to name just a few-- illustrated with in-depth examples that lead the reader step-by-step through their valuation. • Guidance on calculating a minority discount or control premium when selling an interest in a closely-held company. • Analysis of such issues as selecting expert appraisers and resolving valuation disputes. • Complete coverage of statutory and case law pertaining to all areas of valuation, including disputes with the IRS over estate tax valuation. &bull Copious practice tips that alert the reader to areas of complexity and suggest strategies for avoiding valuation audits. Written by Professor Joni Larson (assistant director of the Graduate Tax Program at Thomas M. Cooley Law School in Auburn Hills, Michigan), formerly with the Office of Chief Counsel at the Internal Revenue Service, Valuation Handbook is an authoritative guide to this complex area.
Posted in Law

Tax Aspects of Divorce and Separation

Author: Robert S. Taft,Leonard G. Florescue

Publisher: Law Journal Press

ISBN: 9781588520234

Category: Law

Page: 700

View: 1838

Tax Aspects of Divorce and Separation discusses: valuation of property, including: business enterprises; deductibility of alimony and payments made to a third party.
Posted in Law

The Handbook of Advanced Business Valuation

Author: Robert F. Reilly

Publisher: McGraw Hill Professional

ISBN: 9780071379038

Category: Business & Economics

Page: 512

View: 4663

International cost of capital...blockage discounts . . . valuation issues unique to ESOPs...specific valuation issues for sports structure in emerging growth companies...methods for calculating equity risk premiums...These days, understanding the complex issues in advanced business valuation requires a team of experts. The HANDBOOK OF ADVANCED BUSINESS VALUATION is your team of valuation experts—nationally recognized practitioners and legal minds from across the country who provide authoritative answers and innovative solutions to your most perplexing valuation questions. Structured in a user-friendly, general-to-specific arrangement, The HANDBOOK OF ADVANCED BUSINESS VALUATION represents a broad cross section of the latest conceptual thinking on the subject. Only in this thought-provoking volume will you find: Abstracts and interpretations of recent empirical studies in lack of marketability, blockage, and more; In-depth treatment of specialized valuation issues from many industries—including healthcare, technology, and sports franchises; Lucid, intuitive explanations of complex and esoteric procedures for intercompany transfer pricing analyses and ad valorem property tax appraisals. Like its predecessor volume VALUING A BUSINESS—which covered basic business valuation concepts and practices in authoritative, all-encompassing fashion—The HANDBOOK OF ADVANCED BUSINESS VALUATION provides a new benchmark of advanced, contemporary discussions for investors and experienced business valuation practitioners. Valuation experts from PricewaterhouseCoopers, Ernst & Young, Willamette Management Associates, Arthur Andersen, American Appraisal Associates, and more combine their expertise in this well-written, thoughtful, and convincing reference—one with absolutely no close rival in the flourishing field of business valuation and security analysis.
Posted in Business & Economics

Merger and Acquisition Sourcebook

Author: Walter Jurek

Publisher: N.A


Category: Consolidation and merger of corporations

Page: N.A

View: 9790

Posted in Consolidation and merger of corporations

Business Valuation and Taxes

Procedure, Law, and Perspective

Author: David Laro,Shannon P. Pratt

Publisher: John Wiley & Sons

ISBN: 0471709956

Category: Business & Economics

Page: 576

View: 1850

Disputes over valuation issues fill the court's dockets and forgood reason, fair market valuations are required frequently by thelaw. The authors believe that approximately 243 sections of theCode and several thousand references in the Regulations explicitlyrequire fair market value determination. Consequently, taxpayersfile an estimated 15 million tax returns each year reporting anevent involving a valuation related issue. It is no mystery,therefore, why valuation cases are ubiquitous. Today, valuation isan important and highly sophisticated process. Valuators needlegitimate guidance to perform their work. The objective of thisbook is to provide knowledge, and guidance to those who do thevaluations as well as those who are affected by them. This unprecedented text provides: Clear guidance and perspective on business valuation from twoof the nation’s top authorities, Hon. David Laro and DrShannon Pratt. Insightful perspective and discussion on critical issues,procedures and law pertaining to business valuation. An overview of business valuation procedures Law and techniques of Fair Market Value Opinion from the Hon.David Laro and Dr. Shannon Pratt who express their unique andcritical views. The business valuer with everything from the basics to thesophisticated. From definitions to valuing complex businessinterests, what you need to know about business valuation. Everything from empirical market evidence to credible expertbusiness valuation testimony discussed and analyzed by the Hon.David Laro and Dr. Shannon Pratt.
Posted in Business & Economics

Business Valuation and Federal Taxes

Procedure, Law and Perspective

Author: David Laro,Shannon P. Pratt

Publisher: John Wiley & Sons

ISBN: 0470601620

Category: Business & Economics

Page: 482

View: 439

Praise for Business Valuation and Federal Taxes Procedure, Law, and Perspective Second Edition "The Honorable David Laro and Dr. Shannon Pratt present a comprehensive primer on federal tax valuation controversies that will benefit both tax practitioners (attorneys and CPAs) and valuation practitioners. . . . It serves as a valued reference source and an introductory text for legal and valuation training." —Roger J. Grabowski, Duff & Phelps Corp. from the Foreword "[I]t is refreshing to see these two close observers of valuation issues collaborate on this intriguing volume. What the reader gets is something like a mural—depicting the life of a business appraisal from conception to preparation to the occasional ultimate use by a trier of fact." —Ronald D. Aucutt, Esq.McGuireWoods LLP, from the Foreword "This offering from Judge David Laro and Dr. Shannon Pratt fills in some persistent gaps in the business valuation literature, as well as a surprisingly fresh treatment of perennial themes." —John A. Bogdanski, Professor of LawLewis & Clark Law School, from the Foreword Straightforward guidance and perspective on business valuation from two of the nation's top authorities Written by Senior Judge David Laro and Shannon Pratt, both leading experts on the subject, Business Valuation and Federal Taxes, Second Edition provides a comprehensive overview of business valuation procedures. The new edition offers: Insightful perspectives of personal versus enterprise goodwill New materials on transfer pricing and customs valuations and how recent markets have affected both the income and market approaches Timely coverage of FAS 157 and its many changes to penalties and sanctions affecting both taxpayers and appraisers Exploration of new court cases Presenting knowledge and guidance to those who perform valuations as well as those who are affected by them, Business Valuation and Federal Taxes, Second Edition is the essential guide to federal taxes and valuation, and specifically valuations relating to business interests.
Posted in Business & Economics

Ten Forty Handbook

Author: Jack Zuckerman

Publisher: American Bar Association

ISBN: 9781590311714

Category: Business & Economics

Page: 104

View: 7439

This fourth edition of The 1040 Handbook takes you through a hypothetical couple's 2001 tax return. It is intended to be a practical discovery guide for dissolution using the federal 1040 tax return as the principal discovery tool.
Posted in Business & Economics

Valuing a Business, 5th Edition

The Analysis and Appraisal of Closely Held Companies

Author: Shannon P. Pratt

Publisher: McGraw Hill Professional

ISBN: 0071509356

Category: Business & Economics

Page: 1000

View: 1712

Capitalize on All the Latest Legal, Financial, and Compliance Information Needed to Analyze and Appraise Any Business For over 25 years, Valuing a Business has provided professionals and students with expert business valuation information, offering clear, concise coverage of valuation principles and methods. Over the decades, the book's unsurpassed explanations of all valuation issues have made it the definitive text in the field, against which every other business valuation book is measured. Now updated with new legal, financial, and compliance material, the Fifth Edition of Valuing a Business presents detailed answers to virtually all valuation questions_ranging from executive compensation and lost profits ESOP issues and valuation discounts. Written by Shannon Pratt, one of the world's leading authorities on business valuation, this updated classic offers a complete “one-stop” compendium of information on the full range of valuation concepts and methods. Valuing a Business contains step-by-step discussions and analyses of: Business Valuation Standards and Credentials Defining the Assignment Business Valuation Theory and Principles Gathering Company Data Site Visits and Interviews Researching Economic and Industry Information Analyzing Financial Statements Financial Statement Ratio Analysis Income, Market, and Asset-Based Approaches to Valuation The Capitalized Excess Earnings Method Premiums and Discounts Writing and Reviewing Business Valuation Reports Valuing Debt Securities, Preferred Stock, Stock Options, and S Corporation Stock Valuations for Estate and Gift Tax Purposes Buy-Sell Agreements Valuations for Income Tax Purposes Valuation with Employee Stock Ownership Plans Valuations for Ad Valorem Taxation Dissenting Stockholder and Minority Oppression Actions Valuations for Marital Dissolution Purposes Litigation Support Services Expert Testimony Arbitration and Mediation This landmark reference also presents a wealth of recent court cases for each valuation area, which together provide a comprehensive overview of all the legal rulings and trends in the field of business valuation.
Posted in Business & Economics

Key Aspects of German Business Law

A Practical Manual

Author: Michael Wendler,Bernd Tremml,Bernard John Buecker

Publisher: Springer Science & Business Media

ISBN: 3540247769

Category: Law

Page: 334

View: 2943

This book presents a clear and precise overview of the key aspects of German business law. It was written by attorneys involved in the daily practice of business law in Germany and is aimed at people who wish to orient themselves quickly in which it impacts business pur with the German legal system and the manner chases, establishment, operations and liquidations. The first section of the book is devoted to an explanation of the major issues to be considered in acquiring or establishing a business in Germany, whereas the second section focuses on areas of special consideration. In both sections special attention has been paid to highlighting and explaining the differences between the German legal system and that of the United States, though the intention is to pro vide information that will prove valuable to all foreigners, particularly business men and women and lawyers advising clients with an interest in doing business in Germany. Though it is the object of this book to present readers with a general orientation and the foundation for making informed decisions concerning business transac tions in Germany, it cannot possibly function as a substitute for case-specific pro fessional advice and by no means purpmts to do so. Those readers who wish to follow up on any decisions they may have formed on the basis of the material presented here are well advised to seek the guidance of qualified attorneys and tax advisors before entering into any bindin;>: obligations.
Posted in Law

Valuing the Closely Held Firm

Author: Michael S. Long,Thomas A. Bryant

Publisher: Oxford University Press

ISBN: 0198041276

Category: Business & Economics

Page: 288

View: 1686

A closely held firm is not a smaller version of a large public firm, anymore than a child is a miniature adult. Recognizing that value comes from the ability to generate future cash flows, this book emphasizes the differences between the large and small firms when presenting the concepts to value the closely held firm.
Posted in Business & Economics

An Estate Planner's Guide to Buy-sell Agreements for the Closely Held Business

Author: Louis A. Mezzullo

Publisher: American Bar Association

ISBN: 9781590318379

Category: Law

Page: 135

View: 6106

Nationally known estate planning authority Louis A. Mezzullo provides comprehensive yet practical advice for designing an effective buy-sell agreement to be used as an exit strategy or as part of the succession or estate planning process. He explains what to consider when drafting an agreement for a C or S corporation, a partnership, or a limited liability company. Tools include the suggested terms of a well-drafted agreement, discussions about funding options, tax consequences, and valuation. Includes CD-ROM with sample agreements.
Posted in Law

Legal Ways to Save Taxes Offshore and Onshore

An Annotated Checklist of Tax Reduction Methods Sanctioned by the Tax Law

Author: Vernon Jacobs,J. Richard Duke

Publisher: Offshore Press, Inc.

ISBN: 1934175021

Category: Law

Page: 133

View: 2277

Legal Ways to Save Taxes Offshore and Onshore is an annotated checklist of tax reduction methods that are sanctioned by the U.S. tax law and will work offshore or onshore. Each method includes an indication of whether it is affected by the alternative minimum tax. Reduction methods are organized in the sequence of the personal form 1040.
Posted in Law

The Evolution of Legal Business Forms in Europe and the United States

Venture Capital, Joint Venture and Partnership Structures

Author: Erik M. Vermeulen

Publisher: Kluwer Law International B.V.

ISBN: 9041120572

Category: Law

Page: 376

View: 8787

The evolution of partnership forms is stimulated by powerful economic forces that can lead to widespread prosperity and wealth creation for a society. Given the importance of closely held firms in the United States and Europe, The Evolution of Legal Business Forms in Europe and the United States argues that partnership law should trouble itself less with historical and descriptive arguments about the legal rules and structure of the partnership form and focus much more on the new analytical apparatus of the economics of organizational form as well the fundamental economic learning that informs the debates on limited liability, partnership rules regarding management and control, conflict resolution and fiduciary duties. Introducing and extending the best available theories from law and economics, particularly those from the theory of the firm, This book?s analysis demonstrates that the patterns of European partnership law and its recent history are best understood from an economic and comparative law perspective. By examining the economic theories of the firm and the economics of organization choice, The Evolution of Legal Business Forms in Europe and the United States conceives partnership-type business forms as contractual entities. The key feature of the modern partnership form is that partners have significant flexibility and power to limit their liability, transfer all of their rights, and to freely exit the firm. Another key feature of partnership law is the insight that lawmakers should provide the rules and enforcement mechanisms to regulate the important relationships within the partnership. This book applies an efficiency test to determine which sets of default rules are likely to resolve the main problems in partnerships. Having identified partnership law with the economic theory of organization, The Evolution of Legal Business Forms in Europe and the United States then goes to argue that most of partnership law is directed at offering bundles of legal rules for different types of firms. Lawmakers should promote partnership rules that attract investors and can be expected to be efficient if they allow entrepreneurs to freely select the bundle of rules that best match their priorities. In a modern vision of partnership law, lawmakers promote economic welfare through creating non-mandatory rules that allow multiple businesses to switch to a favourable business form without significant costs. Jurisdictions plagued by falling incorporations and low levels of small and medium business activity, should abandon the mandatory and standardized framework and the `lock in? effect that it promotes, and focus on the mechanisms of legal evolution and rules that tend to mimic the market. This innovation work will have ramifications felt across European jurisdictions, and will be debated by a large audience of policymakers and academic lawyers involved in law reform. Moreover, the book will receive serious attention from students of law and economics, as well as practising lawyers involved in resolving complex issues of organizational law. Review (s) ?Vermeulen?s work makes a significant contribution to the dialogue between legal scholars and policy makers from Europe and the United States on the matter of business entity law reform. The volume is ambitious in scope, thoughtful in approach, and accurate in result. It shows a well-read and nuanced view of the recent American partnership law reform debates. He moves with assurance between different systems of law and analysis, and has a confident sense of what his diverse readers need to know to come to the ultimate discussion with a common sense of the issues and alternatives at hand. Vermeulen?s work should serve as a starting point for a robust discussion among scholars and policy makers.?
Posted in Law

Attorney's Guide to Business and Finance Fundamentals

Author: Robert W. Hamilton,Richard A. Booth

Publisher: Aspen Publishers Online

ISBN: 0735560587

Category: Law

Page: 720

View: 482

Attorney's Guide to Business and Finance Fundamentals is an essential resource for attorneys practicing in the business, commercial and corporate areas, covering such essential topics as: business formation and organization business valuation corporate securities dividends and distribution mergers and takeovers S corporation formations and related tax rules Completely updated, this lucid and authoritative new edition includes significant new material dealing with: 'split Dollar' Life Insurance Accrual Accounting The Public Company Accounting Reform and Investor Protection Act (Sarbanes-Oxley) and the Conduct of Audits and Audit Committee Independence Awards in Connection with Securities Fraud Now Non-dischargeable in Bankruptcy New Tax Laws on Dividends and Capital Gains Sarbanes-Oxley and the effect in Corporate Directors and Corporate Loans State Control Acquisitions Statutes
Posted in Law

A Lawyer's Guide to Estate Planning

Fundamentals for the Legal Practitioner

Author: L. Rush Hunt,Lara Rae Hunt

Publisher: American Bar Association

ISBN: 9781590313664

Category: Law

Page: 209

View: 8209

This book provides an introduction to the basics of estate planning and will make this area of the law more accessible to the nonspecialist.
Posted in Law

The Family Limited Partnership Deskbook

Forming and Funding FLPs and Other Closely Held Business Entities

Author: David T. Lewis,Andrea C. Chomakos

Publisher: American Bar Association

ISBN: 9781590318171

Category: Law

Page: 328

View: 4779

Forming and funding a family limited partnership or limited liability company is both increasingly common and complicated. This current, comprehensive reference provides in-depth analysis of all facets of using these planning vehicles. It begins with detailed guidance on the basic principles of drafting, forming, funding, and valuing an FLP or LLC, but also covers advanced income tax concerns. Added tools include examples and extensive sample forms on CD-ROM.
Posted in Law

Major Estate and Gift Tax Issues

Hearings Before the Subcommittee on Estate and Gift Taxation of the Committee on Finance, United States Senate, Ninety-seventh Congress, First Session

Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Estate and Gift Taxation

Publisher: N.A


Category: Gifts

Page: N.A

View: 6760

Posted in Gifts