Advocate's Edge / Litigation Support
Showing 81–96 of 384 results
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Beyond book value – Court allows discovery of value-related materials
July / August 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 446
Abstract: A divorce case in Florida has produced an important discovery ruling about a spouse’s right to information from a non-party business that could indicate the value of a marital asset. This article explains why this ruling could be welcome news for other divorce litigants seeking equitable distributions. Hall v. Hall, No. 5D18-1608 (Fla. App. June 14, 2019)
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Is it time to consider estate planning moves?
July / August 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 661
Abstract: Businesses and financial markets have incurred major losses in the first half of 2020 due to the novel coronavirus (COVID-19) crisis. But this article highlights a potential upside: Low asset values and favorable tax laws could create opportunities for wealthy individuals to gift certain assets, including business interests and intangible assets, to family members and charities.
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Court rejects value based on improbable subsequent events
July / August 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: In a recent gift tax case, the U.S. Tax Court rejected the IRS’s valuation of a nonvoting stake in a limited liability company (LLC), because it was based on actions conjectured to occur after the gift was made that weren’t reasonably probable. This article explains why the court accepted the taxpayer’s value, which included discounts for lack of control and marketability. Grieve v. Commissioner, TC Memo 2020-28 (March 2, 2020)
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In re Appraisal of Panera Bread Co. – Dissenters’ stock valued at deal price less synergies
July / August 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 875
Abstract: Once again, the Delaware Chancery Court has turned to deal price as the most reliable indicator of a company’s fair value in a statutory appraisal proceeding. However, it decided that adjustments for certain “synergies” were required. This article explains the court’s reasoning — and why the company was denied a refund for prepaying its shareholders. A sidebar highlights alternative methods of valuation that the court ultimately rejected. In re Appraisal of Panera Bread Co., No. 2017-0593-MTZ (Del. Ch. Jan. 30, 2020)
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Court clarifies damages for ESOP fiduciary breach
May / June 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 411
Abstract: When an employee stock ownership plan (ESOP) is induced by the owner or other fiduciaries to overpay for the company’s stock, a court can order those fiduciaries to pay damages. This article summarizes how a Virginia trial court quantified damages in a recent fiduciary breach case. Pizzella (formerly Acosta) v. Vinoskey, No. 6:16-cv-00062 (W.D. Va. Aug. 2, 2019)
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Market approach: Is it right for your business?
May / June 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 557
Abstract: The market approach is often used to value private businesses. It derives value from pricing multiples based on comparable businesses or ownership interests that have been sold. This article provides an overview of two methods under this approach — the guideline M&A method and the guideline public company method — and various criteria that valuation experts may use to identify comparables. Estate of Gallo v. Commissioner, T.C. Memo 1985-363
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Filing charges against a fraudster
May / June 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 656
Abstract: After occupational fraud has been discovered, the case might proceed to civil litigation, criminal prosecution, both or neither. This article discusses the options victim-organizations face when fraud strikes and how in-house personnel and external forensic accounting experts can work together to help ensure that law enforcement receives the support it needs to prosecute a white collar criminal.
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Estate and gift tax valuations – 3 valuable lessons from the trenches
May / June 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 840
Abstract: The IRS and taxpayers rarely see eye-to-eye when valuing businesses for estate and gift tax purposes. This article summarizes three recent developments from the U.S. Tax Court, a federal district court and the IRS Office of Chief Counsel that deal with the issue of fair market value in a federal estate and gift tax context. A sidebar explains why the IRS wouldn’t extend an estate’s deadline for claiming a refund under the financial disability exception. Cavallaro v. Commissioner, T.C. Memo. 2019-144 (Tax Ct. Oct. 29, 2019) Carter v. United States, No. 18-cv-01380-HNJ (N.D. Ala. Aug. 9, 2019)
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Doyle v. Commissioner – Taxpayer can’t reduce taxable settlement for pain and suffering
March / April 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 443
Abstract: Internal Revenue Code Section 104 lays out the proper tax treatment for damages for injuries or illness received as the result of a lawsuit. This article discusses a recent U.S. Tax Court case in which a taxpayer tried to get around the rules by taking what the court described as “some weird deductions” to offset payments for emotional distress. Doyle v. Commissioner, T.C. Memo. 2019-8, February 6, 2019
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4 common payroll fraud schemes
March / April 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 594
Abstract: Dishonest employees may test the waters with payroll scams before they attempt bigger, bolder fraud ploys. Staff training can help reduce an employer’s risk. This article covers four payroll-related scams: 1) doctored hours, 2) ghost employees, 3) commission fraud and 4) direct deposit redirect schemes.
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Beware of hidden business income and assets in divorce
March / April 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 658
Abstract: When divorcing spouses own a private business interest, dividing up the marital estate can become complicated — and even downright ugly. This article highlights potential red flags that could indicate that the spouse who controls a business may be downplaying profits or hiding business assets to protect his or her financial interests.
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AI rises to the forefront in law firm operations
March / April 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 818
Abstract: The American Bar Association has explicitly recognized the growing role for artificial intelligence (AI) in the practice of law. This article explains the importance of staying atop of these technologies and the ethical requirements, along with highlighting ways that attorneys can use AI to boost productivity and improve service. A sidebar explains how to apply AI at a law firm.
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Weak damages evidence can mean nominal damages
January / February 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 444
Abstract: A start-up company lost out on a jury’s $4.35 million lost profits award in a breach of contract action after a federal court found its expert’s “yardstick” analysis faulty. This article explains what happened, why the U.S. Court of Appeals for the Second Circuit upheld a $1 damages award and how the case may apply to other clients who rely on financial experts to quantify economic damages.
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Marroquin v. Marroquin – Evaluating goodwill for a one-person business
January / February 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 610
Abstract: In divorce cases, the treatment of a closely held business’s “goodwill” varies from state to state. It also depends on the nature of the business. This article discusses the concept of goodwill in a divorce context and highlights a recent Utah appeals court case which determined that there was no enterprise (institutional) goodwill in a business that entirely depended on the owner-spouse’s efforts and reputation.
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Control risk with a comprehensive ERM program
January / February 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 621
Abstract: Business owners can’t eliminate all risk factors. But they can manage their company’s risk profile by implementing an Enterprise Risk Management (ERM) program. This article explains how financial experts can help business owners adopt an integrated approach to assess and manage fraud risk.
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To tax-affect or not to tax-affect – Valuing pass-through businesses
January / February 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 866
Abstract: The debate in valuation circles over tax-affecting — reducing a pass-through entity’s projected future income for hypothetical corporate income taxes on that income — has heated up in recent years. This article outlines arguments for and against tax-affecting. It also explains how recent tax law changes may have leveled the playing field between C corporations and pass-through entities. A sidebar summarizes a recent case in which the U.S. Tax Court allowed tax-affecting methodology to account for the tax consequences of pass-through status.