by apexcpas | Jul 4, 2018 | Valuations
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. Unfortunately, it’s...
by apexcpas | Jul 4, 2018 | Valuations
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 their lawyers. And they...
by apexcpas | Jul 4, 2018 | Valuations
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 overvaluation problem...
by apexcpas | Jul 4, 2018 | Valuations
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), Peco Foods acquired...
by apexcpas | Jul 4, 2018 | Valuations
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 took over...