March, 2010

Contents

• Top Five Must-Haves for Tax Valuation Reports
• Survey Results for DLOM
• Credibility in Court—the View from the Bench
• The Discounting Decisions

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Litigation Support Services

Past Articles

SC&H Business Valuation & Support Leaders

Michael J. Young,
CPA/ABV, CVA
Director
(410) 403-1513
Over 27 years of experience; serves as expert witness in litigation issues including economic damages, patent infringement, valuation, and fraud matters in Federal and state courts.

Nathan E. DiNatale,
CPA/ABV, CVA, CFE
Senior Manager
(410) 403-1521
Over 15 years of experience; focuses on business valuations, valuations for financial reporting, litigation support and economic damage calculations. Serves as expert witness in valuation and litigation cases.

Top Five Must-Haves for Tax Valuation Reports

Hiring an expert for a tax valuation? Is the expert you've hired following best practices? At the recent NACVA/IBA 2009 Consultants' Conference in Boston, the Honorable David Laro (U.S. Tax Court) joined fellow panelists Howard Lewis, currently the IBA's executive director and former National Program Manager for the IRS Engineering and Valuation programs; and Mike Eggers, principal of American Business Appraisers (San Diego), to come up with the following checklist for "best practices" in tax-related valuation reports:

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Survey Results for DLOM

A new survey by the BVWire™ on the current methods for calculating the discount for lack of marketability (DLOM) shows an increasing sophistication among business appraisers in their understanding and appreciation of the factual, legal, and empirical underpinnings of any DLOM conclusion. Following are some of the most interesting revelations from this survey and key points to consider in the assessment of your expert: 

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Credibility in Court—the View from the Bench

At the recent Summit on Business Valuation in Divorce, the very first question posed to the panel of four judges was, "What makes a BV expert credible in court?"

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The Discounting Decisions

That damages awards must be discounted to their present value, so that plaintiffs are not over-compensated, is not disputed. Discounting is a way of accounting for the time value of money (that a dollar today is worth more than a future dollar, because today's dollar can be invested and will add value over time) and risk (a bird in hand is worth more than two in the bush, as they say).

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