July / August
Showing 49–64 of 616 results
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IRS hot button: Deductible management fees vs. disguised distributions
July / August 2022
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 446
Abstract: The U.S. Tax Court recently ruled that management fees a corporation paid to shareholders over a three-year period weren’t deductible; instead, they represented disguised distributions. This article summarizes the key points of this decision and explains why it could be relevant outside of a federal tax context. Aspro, Inc. v. Commissioner, TC Memo 2021-8.
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Know the company’s value before meeting with lenders
July / August 2022
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 594
Abstract: An understanding of a company’s value is critical when applying for new loans to grow the business or renegotiating existing terms to be more favorable. This article explains why a balance sheet can present an incomplete picture of financial position. Current market values are based on future earnings and the prices paid for comparable companies.
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Delaware Chancery Court weighs in on fair value in statutory buyouts
July / August 2022
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 643
Abstract: Reliable market indicators often provide the best evidence of a corporation’s fair value in statutory appraisal rights cases. This article summarizes a recent Delaware Chancery Court case that based the buyout price for a dissenting shareholder’s interest on two market-based value indicators. The court also factored in changes in value between the merger’s signing and closing dates. In Re Appraisal of Regal Entertainment Group, Cons. C.A. No. 2018-0266-JTL, Court of Chancery of the State of Delaware (May 13, 2021). BCIM Strategic Value Master Fund LP v. HFF, Inc., C.A. No. 2019-0558-JTL, Court of Chancery of the State of Delaware (February 2, 2022).
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Harvey v. Harvey – Buy-sell provision applies to divorce valuation
July / August 2022
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 844
Abstract: The Fifth District Court of Appeals of California recently addressed the valuation of a closely held business in connection with a divorce. Notably, the court valued the wife’s 50% interest pursuant to the valuation provisions of a buy-sell agreement rather than the state’s family code. This article explains why the appellate court rejected a discount for taxes that weren’t “immediate and specific,” but allowed a discount for lack of marketability. Harvey v. Harvey, No. F078166, Court of Appeals of California, Fifth District (December 16, 2021).
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IRS hot button: Deductible management fees vs. disguised distributions
July / August 2022
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 446
Abstract: The U.S. Tax Court recently ruled that management fees a corporation paid to shareholders over a three-year period weren’t deductible; instead, they represented disguised distributions. This article summarizes the key points of this decision and explains why it could be relevant outside of a federal tax context. Aspro, Inc. v. Commissioner, TC Memo 2021-8.
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Know the company’s value before meeting with lenders
July / August 2022
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 594
Abstract: An understanding of a company’s value is critical when applying for new loans to grow the business or renegotiating existing terms to be more favorable. This article explains why a balance sheet can present an incomplete picture of financial position. Current market values are based on future earnings and the prices paid for comparable companies.
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Delaware Chancery Court weighs in on fair value in statutory buyouts
July / August 2022
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 643
Abstract: Reliable market indicators often provide the best evidence of a corporation’s fair value in statutory appraisal rights cases. This article summarizes a recent Delaware Chancery Court case that based the buyout price for a dissenting shareholder’s interest on two market-based value indicators. The court also factored in changes in value between the merger’s signing and closing dates. In Re Appraisal of Regal Entertainment Group, Cons. C.A. No. 2018-0266-JTL, Court of Chancery of the State of Delaware (May 13, 2021). BCIM Strategic Value Master Fund LP v. HFF, Inc., C.A. No. 2019-0558-JTL, Court of Chancery of the State of Delaware (February 2, 2022).
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Harvey v. Harvey – Buy-sell provision applies to divorce valuation
July / August 2022
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 844
Abstract: The Fifth District Court of Appeals of California recently addressed the valuation of a closely held business in connection with a divorce. Notably, the court valued the wife’s 50% interest pursuant to the valuation provisions of a buy-sell agreement rather than the state’s family code. This article explains why the appellate court rejected a discount for taxes that weren’t “immediate and specific,” but allowed a discount for lack of marketability. Harvey v. Harvey, No. F078166, Court of Appeals of California, Fifth District (December 16, 2021).
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Why you should encourage online prequalification
July / August 2021
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 439
Abstract: Many car buyers today want to start the financing process online before they visit a dealership, according to a recent survey by CarGurus. This article discusses more-detailed findings from this consumer sentiment survey.
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An advisory board can boost your business
July / August 2021
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 514
Abstract: A growing number of businesses today are creating advisory boards to provide owners with assistance to help them meet specific challenges. This includes automobile dealerships, which have certainly faced their share of challenges over the past year. This article covers defining a board’s purpose, selecting members and maximizing a board’s benefits.
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Buying another dealership? Preliminary due diligence can improve your odds of success
July / August 2021
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 716
Abstract: Many dealerships have fared well during the pandemic as many commuters have turned to buying private vehicles over using public transportation and for other reasons. As a result of their success, some owners are eyeing the purchase of another dealership. But before taking that plunge, dealers need to examine their financial health and franchise requirements, identify risks, size up employees and choose the right structure for the deal.
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5 financial and accounting processes that might be due for a revamp
July / August 2021
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 831
Abstract: Now might be a good time for a dealership to rethink and revamp its financial and accounting processes, if it hasn’t done so already. Some of them may have been in place for a long time and outlived their usefulness. This article offers five ideas to consider, including using an automated payable system, accelerating bank reconciliations and streamlining monthly closings.
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3 methods to estimate value for buy-sell purposes
July / August 2021
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 441
Abstract: Changes in business values during the pandemic may necessitate updates to companies’ buy-sell agreements. This article describes three common valuation methods used for buyout purposes — 1) prescribed formulas, 2) negotiated prices, and 3) independent appraisals — and how valuation experts can help owners implement buy-sell agreements that cover all the value-related bases.
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Focus on infringement – Federal court provides guidance on reasonable royalty evidence
July / August 2021
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 652
Abstract: In patent infringement cases, plaintiffs are generally entitled to recover damages based on lost profits but never less than “reasonable royalties.” This article summarizes a recent U.S. district court ruling that provides guidance on the standards that damages experts are expected to meet in these cases. Meridian Manufacturing, Inc. v. C&B Manufacturing, Inc., No. C15-4238-LTS (N.D. Iowa, October 5, 2018). Georgia-Pacific Corp. vs. U.S. Plywood Corp., 318 F. Supp. (S.D.N.Y. 1970).
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White v. White – Is appreciation separate or marital property?
July / August 2021
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: When dividing property in a divorce case, courts in most states distinguish between separate and marital property. Generally, separate property isn’t subject to division, while marital property is. However, a recent Nebraska Supreme Court case highlights how an increase in the value of separate property may sometimes be classified as marital property and, therefore, be subject to division. White v. White, 937 N.W.2d 838 (Neb. 2020).
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The virtual reality of today’s legal meetings
July / August 2021
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 892
Abstract: During the pandemic, virtual meetings have been used widely for various legal purposes, including court hearings, depositions, settlement talks and M&A negotiations. This article identifies potential pitfalls and ways to avoid them when conducting virtual meetings or testifying remotely. A sidebar highlights another lesson learned during the pandemic: Recycling valuation reports can be perilous, except in rare situations.