by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations
Holder v. Howe, 2016 Cal. App. Unpub. LEXIS 8989 (Dec. 14, 2016) A bankruptcy-related suit in front of the California Court of Appeal turned on the issue of how to value an aged film that never made any money. The trial court dismissed the plaintiff expert’s approach...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations
In 2013, Florida’s legislature rejected the long-standing Frye standard on the admissibility of expert witness testimony and adopted the Daubert standard and Federal Rule of Evidence 702 with two amendments to the state’s Evidence Code. Subsequently, The Florida Bar’s...
by Royer Advisors | Dec 11, 2024 | Business Plans, Court Rulings, IRS Regulation, Valuations
Cavallaro v. Commissioner, 2016 U.S. App. LEXIS 20713 (Nov. 18, 2016) (Cavallaro II) In 2014, taxpayers who had relied on estate planning professionals to affect the transfer of their family business to their sons confronted a tax liability on a $29.6 million gift. A...
by Royer Advisors | Dec 11, 2024 | Court Rulings, IRS Regulation, Tax Planning, Tax Preparation
Although the Federal tax law allows deductions for many items, such as legitimate business expenses and charitable donations, you must maintain adequate records to support them. If your tax return is audited, missing or incomplete records could lead to additional...
by Royer Advisors | Dec 11, 2024 | Court Rulings, IRS Regulation, Tax Planning, Tax Preparation, Valuations
Exelon Corp. v. Commissioner, 2016 U.S. Tax Ct. LEXIS 26 (Sept. 19, 2016) A Section 1031 case that Judge Laro adjudicated cautions experts about allowing the hiring attorney to assume control over the appraisal. In ruling for the government, the judge found the...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations
Dunmire v. Farmers & Merchants Bancorp of W. Pa., 2016 Del. Ch. LEXIS 167 (Nov. 10, 2016) In a statutory appraisal action, the Delaware Court of Chancery rejected the deal price as evidence of fair value, citing a suboptimal sales process. Only an income-based...
