by Royer Advisors | Dec 11, 2024 | Court Rulings, Financial Planning, Valuations
Financial experts are often needed in commercial litigation cases. They could be used to value a business, figure out economic damages, or to look into fraud allegations. In these cases, the quality of the numeric data that is available to the expert is critical,...
by Royer Advisors | Dec 11, 2024 | Business Plans, Court Rulings
What happens if you’re the owner of a limited liability company (LLC) that generates tax losses, and you don’t spend a lot of time in the activities of the business? The losses might be classified as passive, and your ability to currently deduct them might be severely...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations
Valuation experts receive a lot of advice on how to guard against an attack from the opposing side, but sometimes an attack can come from the expert’s own client. A recent case shows how an appraiser who sued a client over unpaid fees was put on the defensive. Costly...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations
In 1993, the Supreme Court positioned judges as “gatekeepers” against “junk science” in Daubert v. Merrell Pharmaceutical, Inc. (509 U.S, 579). Then, in 1999, Kumho Tire Company v. Carmichael (526 U.S. 137) extended the scope of Daubert beyond...
by Royer Advisors | Dec 11, 2024 | Court Rulings
Cullifer v. Commissioner, 2014 Tax Ct. Memo LEXIS 204 (Oct. 7, 2014) In a multilayered tax shelter case, the IRS used the theory of transferee liability to pursue a $9 million claim against the petitioner in connection with the sale of company assets and company...
by Royer Advisors | Dec 11, 2024 | Court Rulings
The U.S. Tax Court has held that payments received by a police detective on his retirement, for unused sick and vacation time, were includible in income. Based on that conclusion, the court rejected the taxpayer’s argument that a portion of the vacation time and...
