Articles From Brisbane Consulting Group

In a recent gift tax case, the U.S. Tax Court accepted the taxpayer’s value, which included discounts for lack of control and marketability.

Estimating discount rates is a complex task — even in the best of times.

The COVID-19 pandemic has had a devastating impact on the economy and created significant uncertainty. This article explains how the current environment presents unique challenges as couples in divorce proceedings strive to reach an equitable property division agreement.

In Memorial Hermann Health System v. Gomez, a Texas appellate court upheld a compensatory and punitive damages award to a cardiovascular surgeon. The doctor’s employer raised several issues on appeal, including an argument that evidence of lost profits was legally insufficient.

On August 28, 2020, the IRS issued Notice 2020-65 that provides some needed guidance for employers wondering whether and how to comply with the employee payroll tax deferral described in the August 8, 2020 Presidential memorandum. Even though the Notice leaves many questions unanswered, it addresses some key items.

For decades, business valuation experts and the IRS have been at odds regarding the practice of “tax affecting” the earnings of pass-through entities. Though the U.S. Tax Court has consistently rejected this practice, the court has recently softened its stance and other courts have been less rigid on the matter. A recent Connecticut appellate court decision highlights both sides of the debate — and the importance of considering the facts of the specific case.

The Financial Accounting Standards Board has issued several major updated accounting standards in recent years, and the implementation process is underway.

Under the income and market approaches, the value of a business is based on how much earnings it will generate in the future. Historical results are a helpful starting point, but they usually need to be adjusted when projecting future performance.

When valuing a business interest, it’s critical to examine organizational documents.

Borrowers of PPP loans should consider taking these five steps to maximize the amount and accelerate the timing of loan forgiveness.