I first started testifying when I was a cop on the Tucson Police Department many moons ago. Those cases all involved the commission of a crime – some of the misdemeanor type and others involving felonies. After my career as a police officer, I became an accountant and then, eventually, a CPA. As a CPA …
One of the biggest challenges facing an expert when assessing damages in matters involving children is the future lost wages portion of a calculation. Estimating future earnings, probable educational attainment, and evaluating worklife expectancy are only some of the considerations that make these cases difficult and when the incident happens at such a young age, …
Should a sell side due diligence be an exercise where the consultant provides a financial due diligence report that presents the sellers business in its best light at the expense of overlooked problem areas, or should the consultant perform rigorous procedures to uncover potentially problematic issues that could disrupt the sales process if the buyer …
Prenuptial Agreements (prenups) are used between two people prior to marriage to address certain financial aspects of their marriage. For those entering a second or third marriage, it can help define what assets will be available to the future spouse and what will be set aside for the children. A prenuptial agreement can make the …
About a year ago I drafted a blog titled ‘Will it ever be the same again?’ where I discussed how investor, cash flows, and growth expectations will impact valuations of privately held companies in the COVID-19 environment. One year later, let’s check how that blog aged over the past year (*spoiler alert* my expectations of …
Can you, and should you, apply a discount for lack of control when valuing a majority interest? Well, with almost everything valuation related, it depends. A recent tax court case (Estate of Warne v. Commissioner) allowed a small discount for lack of control discount for majority interests in several Limited Liability Companies (LLCs). Don’t miss: …
Question: Have you heard of EBITDA multiple erosion? EBITDA multiple erosion is the process where the buyer has exclusivity with the seller (after the letter of intent is signed) and begins the financial due diligence process. All the negotiation power moves from the seller to the buyer during this period and this is when the …
Employee Stock Ownership Plans (ESOP) are qualified retirement programs available to corporations with tax advantages to both the employees, the company and the owner/former owner. ESOPs are formed with the creation of an ESOP trust which buys the stock, in part or in whole, from a shareholder or shareholders of the corporation. The selling shareholder …
Ownership disputes occur among owners of any type of company – corporations, limited liability companies, partnerships, or any other legal business entity. They appear in one of two forms: Dissenting Shareholder Actions – This type of dispute arises when minority owners believe that they are receiving less than fair consideration to which they believe they …
Sometimes, the family business will not pass to the next generation, even though the kids currently work in the business. There are many reasons why the kids do not want to take over the business. Reasons range from their current lifestyle is pretty good so they do not want to spend day and night being …
Do you qualify for the Employee Retention Credit? How about a Paycheck Protection Loan? Looking for all COVID tax related information? We have you covered!
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