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Showing all 15 results
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Estate of Cecil v. Commissioner – Tax Court permits tax affecting of S corp earnings
September / October 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: The debate about tax affecting when valuing pass-through entities for federal gift and estate tax purposes continues. “Tax affecting” refers to the practice of reducing a business’s projected future earnings for hypothetical corporate income taxes. This article explains why the U.S. Tax Court reluctantly allowed tax affecting in a recent case. Estate of Cecil v. Commissioner, T.C. Memo. 2023-24 (Tax Ct. Feb. 28, 2023). Gross v. Commissioner, T.C. Memo. 1999-254, aff’d, 272 F.3d 333 (6th Cir. 2001).
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Robinson v. Langenbach – Applying valuation discounts in statutory buyouts
January / February 2021
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: In most states, the appropriate standard of value in statutory buyouts is fair value. Unlike fair market value, fair value generally doesn’t include discounts for lack of control or marketability. This article summarizes a recent minority interest buyout case that highlights how courts may have broad discretion when valuing minority interests for buyout purposes — and applying valuation discounts — based on case facts. A sidebar provides an example of discounts being denied. Robinson v. Langenbach, No. SC97940, Supreme Court of Missouri, En Banc (May 12, 2020) Hartman v. BigInch Fabricators & Construction Holding Company, No. 19A-PL-2263, Court of Appeals of Indiana (May 5, 2020)
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Robinson v. Langenbach – Applying valuation discounts in statutory buyouts
January / February 2021
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: In most states, the appropriate standard of value in statutory buyouts is fair value. Unlike fair market value, fair value generally doesn’t include discounts for lack of control or marketability. This article summarizes a recent minority interest buyout case that highlights how courts may have broad discretion when valuing minority interests for buyout purposes — and applying valuation discounts — based on case facts. A sidebar provides an example of discounts being denied. Robinson v. Langenbach, No. SC97940, Supreme Court of Missouri, En Banc (May 12, 2020) Hartman v. BigInch Fabricators & Construction Holding Company, No. 19A-PL-2263, Court of Appeals of Indiana (May 5, 2020)
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Appreciate these depreciation tax breaks
Year End 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: Businesses that have been ramping back up at year end may need to buy business property for the rebound. This article highlights several key potentially beneficial depreciation-related tax breaks for companies, such as a first-year “bonus depreciation” deduction and a MACRS deduction. A sidebar discusses tax rules relevant to business driving.
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Start the year right: Review withholding and estimate tax payments
January / February 2018
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: To help prevent the possibility that they’ll owe the IRS at income tax time, taxpayers should regularly review their withholding and submit quarterly payments when necessary. This article explains how, including two strategies to prevent penalties. A sidebar urges individuals to be careful with income that isn’t subject to employer withholding, such as self-employment and investment income.
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Case study: How strong internal controls can deter fraud
January / February 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: This article spotlights the case of a dealership that became the victim of a large fraud scheme. What can be learned from the case is discussed, including what internal controls might have prevented the fraud in the first place. A sidebar highlights a fraud-fighting measure offered by many banks today.
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Just desserts? Why a computerized menu patent was found ineligible
June / July 2017
Newsletter: Ideas on Intellectual Property Law
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: This article talks about why merely appending a pre-existing practice or technology to patent-ineligible claims doesn’t render them patent-eligible. Apple, Inc. v. Ameranth, Inc. involved patents for a computerized restaurant menu system that were challenged for adding familiar computer components to well-known business practices. A sidebar explains what a “Covered Business Method” patent is. Apple, Inc. v. Ameranth, Inc., No. 2015-1703, -1704, Nov. 29, 2016 (Fed. Cir.) Alice Corp Pty. Ltd. v. CLS Bank Int’l, No. 13–298, June 19, 2014 (U.S.)
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The ins and outs of accounting for inventory
June / July 2016
Newsletter: Commercial Lending Report
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: For many types of businesses, inventory is typically a leading source of collateral. This article describes the different accounting methods borrowers use to report their inventories and explains why lenders can’t always accept inventories at face value. A sidebar helps lenders understand what makes up the LIFO reserve.
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How to protect your nonprofit from cybercrime
Fall 2014
Newsletter: Nonprofit Observer
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: Any nonprofit that has a computer network or collects financial or personal information — in other words, most nonprofits — risks data theft. So it’s critical to have effective cybersecurity policies and sophisticated protections in place. This article explains why nonprofits are particularly vulnerable to data theft and how they can fight back by following data handling rules, educating staffers about common cybercrime schemes and establishing a board technology committee. A sidebar discusses cyber liability insurance.
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Use templates to monitor financial performance
Spring 2014
Newsletter: Rx for Practice Management / Practice Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: To make effective management decisions, practice leaders must have access to up-to-date, comparative information about their finances. A variety of report templates can help them aggregate key data to accurately monitor financial performance. This article describes the following reports: monthly financial, annual, relative value unit (RVU), payer evaluation, fee schedule, and proposed service. A sidebar notes that, while templates are important, they’re not the only means of measuring financial performance.
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Setting executive compensation – How to attract the best without attracting criticism
Winter 2014
Newsletter: Nonprofit Observer
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: Nonprofits need to offer enticing executive compensation packages to attract and retain top talent. But the IRS can impose excise taxes if it considers a nonprofit executive’s compensation “excessive.” At the same time, nonprofits must provide adequate incentives to ensure executives are accountable for achieving organizational goals. This article examines how to attract the best candidates without overpaying them or running afoul of the IRS or watchdog groups. A sidebar offers ways besides cash to compensate staff.
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Take the stress out of stress testing
Spring 2013
Newsletter: Community Banking Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: Stress testing can be a powerful tool for evaluating the impact of adverse external events on a bank’s earnings, capital adequacy and other performance measures. It also can guide an institution’s risk management and capital planning efforts. But until recently, there’s been some confusion about regulators’ expectations for stress testing by community banks. This article discusses new OCC supervisory guidance on this topic, looking at a variety of stress testing methods. A sidebar notes the circumstances under which institutions are expected to employ enhanced risk management techniques, including stress testing.
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Stop purchasing fraud in its tracks
May / June 2011
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: Purchasing fraud is one of the most prevalent forms of occupational theft. The temptation to steal can be strong for employees with financial troubles and access to their company’s accounts. This article describes common forms of purchasing fraud, and explains how companies can detect possible fraud, and the methods that forensic accountants use to investigate possible schemes. A sidebar summarizes the findings of an Association of Certified Fraud Examiners’ survey on fraud perpetrators.
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Emerging from bankruptcy – Valuation is critical to a successful fresh start
November / December 2010
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: Once a company emerges from bankruptcy, obtaining an accurate estimate of its reorganization value as well as the fair value of its assets will help ensure its survival. But, although traditional valuation principles and approaches apply, reorganization value is driven by negotiations between the debtor and its creditors, whose primary concern is how much they’ll be paid. As this article explains, valuators in a bankruptcy context must consider several complex, interrelated accounting standards.
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Combating financial illiteracy – What your board members and employees need to know
Winter 2009
Newsletter: Nonprofit Observer
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: Nonprofit leaders must ensure that everyone in their organization who makes major decisions on its behalf understands basic financial concepts — particularly their board of directors, who have a fiduciary responsibility to regularly review the nonprofit’s finances to ensure proper management. This article outlines core concepts for financial literacy, including accounting methods, best budgeting practices and reporting requirements.