ARTICLES

Do you have partners in your practice who will be retiring within the next five to ten years? If so, it’s time to start developing a transition plan for when the time comes. Understanding how the value of your practice is determined can help you...

Your CPA is a vital member of your legal team. But when should you call your CPA for assistance? The short answer is, “Whenever business issues or numbers are involved.” Here are five ways you can involve your CPA in litigation and practice...

By Laura P. Ewart, CPA, valuations supervisor at CPAmerica In virtually all matrimonial litigation cases in which one spouse is a business owner, the expert retained in the case must analyze and report on two issues. The first issue is the value of...

Time-keeping and billing can be the bane of an attorney’s existence. But even worse is having to work an additional 10 or 20 hours because a client failed to pay his bill. Faster billing means faster and larger collection of professional fees....

Attorneys often suffer from “panicky client syndrome.” The client panics, the lawyer works double-time, and the client complains about the bill. Many clients, especially difficult ones, use Friday afternoons to pawn their legal worries off onto...

It’s no secret that property values throughout the nation have been depressed in recent years. Declining real estate values bring interesting problems to the valuation process because we haven’t experienced them in our recent past. Property tax...

The Tax Court has ruled that a company could not modify the purchase price allocations it had agreed to in connection with two asset acquisitions. In the case of Peco Foods Inc., et al. v. Commissioner (TC Memo 2012-18, Jan. 17, 2012),...

A recent Tax Court decision presents a how-to list of steps to avoid when using a family limited partnership (FLP). Here is what happened. In 1984, Dr. Paul Liljestrand transferred various real estate assets to a revocable trust, and his son Robert...

Discounted cash flow is a widely used income approach method of valuation. What does it mean to discount? A discount is a deduction made to a sales price or value. With that being said, how is a deduction to value a valuation method? Here’s a brief...

You are ready to put out feelers for selling your company. Perhaps you have contacted your CPA to have some preliminary due diligence begun. As you prepare to finalize your asking price, issues arise that you hadn’t planned on. Hidden liabilities –...

Business valuation can seem to be as simple as a multiple paid against your last year’s earnings. But the truth is, valuation is an ever-evolving field, and recent advances continue to affect how valuations are performed. The goals are still to...

They call you in a panic. They need your advice right away. You drop everything and work hard to get them the information, documents or whatever they need. Then they sit on your invoice for months. Hopefully, this scenario represents only a small...