Trends in Daubert challenges

The professionals who testify as experts – and the attorneys who retain them – are likely very familiar with the “Daubert Standard,” as challenges to experts and their testimony has become more and more commonplace since the 1993 U.S. Supreme Court ruling in Daubert v. Merrell Dow Pharmaceuticals, Inc. and the 1999 ruling in Kumho …

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Mediation and the CPA expert

The Merriam-Webster online dictionary describes the process of mediation as: “(T)he act or process of mediating; especially: intervention between conflicting parties to promote reconciliation, settlement, or compromise.” Mediation is also described by dictionary.thelaw.com, as using: “A third party, neutral facilitator who assists parties in conducting effective communication and negotiation in order to find an appropriate …

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ASA supports trustee, appraiser in ESOP litigation

I recently wrote an article about several cases being brought by the Department of Labor (DOL) against Employee Stock Ownership Plan (ESOP) trustees. The cases all related to the DOL’s claim that the ESOP trustees had breached their fiduciary duties by relying on appraisals prepared for the valuation of the ESOP owned stock. One such …

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Why CPAs who testify like QuickBooks

CPAs who perform litigation support and forensic accounting services are retained as expert witnesses to provide reports and to testify on their reports on such matters as: Determining income of mother or father from an owned business for child support or spousal maintenance purposes, Determining lost profits of a business in owner disputes, Determining the …

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Tax reform and the impact on divorce

With the passage of the Tax Cuts and Jobs Act (TCJA) in December 2017, most people have heard about the changes in tax brackets, the elimination of exemptions, the reduced tax rate for corporations and the qualified business deduction for certain passthrough entities. For those in the midst of divorce, or contemplating a divorce, the …

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Arizona population projections, marriages and divorces

A report from the CDC/NCHS (*), National Vital Statistics System (See Table 1) has disclosed some interesting facts about population, marriages and divorces covering our 50 states and the District of Columbia. Marriage and Divorce The national average of divorce to marriages per 1,000 total population is 45.6% (**). When it comes to divorce, Arizona …

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Valuation Issues in Divorce

Divorce can be a very emotional event, which is further complicated by the effort to equitably divide the marital assets. The parties often disagree about the value of specific assets; which assets are sole and separate property; and on occasion, may accuse one another of fraud. One particular item that is often in dispute is …

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A Contract to “86” Wife Isn’t Part of the Divorce Settlement

Over the years I have been asked to be an expert regarding many marital dissolution cases. Most of my cases deal with valuing business interests held by the divorcing parties and income determination in connection with spousal maintenance and child support issues. Many of my cases have gone amicably between the divorcing parties. Some were …

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