Business Valuation and Federal Taxes

Today, valuation is an important and highly sophisticated process, and valuators need legitimate guidance to perform their work. This book provides guidance on appraising estate, gift, charitable contribution, income taxes, and purposes for which fair market value is the standard. The Second Edition includes a new chapter on personal versus enterprise goodwill and new information on transfer pricing and customs valuations. Business valuation professionals and estate and corporate attorneys will find this book an invaluable addition to their professional libraries.

Senior Judge David Laro was appointed to the United States Tax Court, confirmed by the Senate, and invested as a federal judge in November 1992. He formerly practiced law in Flint and Ann Arbor, Michigan, for twenty-four years, specializing in tax law. Senior Judge Laro was chairman and CEO of a publicly traded international company, and he cofounded Republic Bancorp, a Michigan bank holding company. He is an adjunct professor of law at Georgetown University Law School and a visiting professor at the University of San Diego Law School.

Shannon P. Pratt is one of the most successful and respected authors in the field of business valuations. He has authored many industry standard books, including Cost of Capital, Fourth Edition; Business Valuation Discounts and Premiums, Second Edition; and The Market Approach to Valuing Businesses, Second Edition, all published by Wiley. Over a distinguished career of more than four decades, he has performed valuation engagements for M&A, ESOPs, and numerous other purposes. He is also Editor Emeritus of Shannon Pratt's Business Valuation Update, the premier monthly newsletter in the field of business valuation. Dr. Pratt is CEO of Shannon Pratt Valuations, a business valuation firm located in Portland, Oregon.

Foreword to Second Edition.

Foreword: Legal Practitioner's Perspective.

Foreword: Law Professor's Perspective.

Foreword: Business Appraiser's Perspective.

Preface to the New Edition.

Acknowledgments.

About the Authors.

CHAPTER 1: Standards of Business Valuation.

CHAPTER 2: Subsequent Events.

CHAPTER 3: Business Valuation Experts.

CHAPTER 4: Sources of Law and Choice of Courts.

CHAPTER 5: Burden of Proof in Valuation Controversies.

CHAPTER 6: Penalties and Sanctions.

CHAPTER 7: How the Form of Entity Affects Valuation.

CHAPTER 8: Valuation of S Corporations and Other Pass-Through Tax Entities: Minority and Controlling Interests.

CHAPTER 9: Transfer Pricing.

CHAPTER 10: Customs Valuation.

CHAPTER 11: Adjustments to Financial Statements.

CHAPTER 12: Comparative Financial Statement Analysis.

CHAPTER 13: Economic and Industry Analysis.

CHAPTER 14: Site Visits and Interviews.

CHAPTER 15: The Income Approach.

CHAPTER 16: The Market Approach.

CHAPTER 17: The Asset-Based Approach.

CHAPTER 18: Entity-Level Discounts.

CHAPTER 19: Minority Discounts/Control Premiums.

CHAPTER 20: Discounts for Lack of Marketability.

CHAPTER 21: Other Shareholder-Level Discounts.

CHAPTER 22: Personal versus Enterprise Goodwill.

CHAPTER 23: Weighting of Approaches.

CHAPTER 24: IRS Positions.

CHAPTER 25: Business Appraisal Reports.

CHAPTER 26: Valuation of Options.

CHAPTER 27: Questions to Ask Business Valuation Experts.

APPENDIX A: International Glossary of Business Valuation Terms.

APPENDIX B: Bibliography.

Table of Cases.

Index.

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

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Business Valuation and Federal Taxes Procedure, Law and Perspective

Summary

Author Biography

Table of Contents

Supplemental Materials