Can Shareholders of a C-Corp be Subject to Taxable Income if They are...
A C-Corporation should always be the owner and beneficiary of a life insurance policy to avoid taxable income to the surviving shareholders. When contemplating the manner in which to fund a buy-sell...
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When Should an Appraisal of a Non-Cash Charitable Contribution be Performed?
Taxpayers who make charitable contributions of non-cash property could be putting themselves in IRS penalty danger if the contribution is more than $5,000 and the property has not been appraised by a...
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Greater Phoenix Office Market Looking Positive for 2016
Vacancy Rates Trended Lower for Fifth Consecutive Year in 2015 The chart below presents statistical data in the fourth quarter of 2015 for Class A, Class B and Class C office space in Metro Phoenix...
View ArticleTaxpayer Victory in Personal Goodwill Case
In August of 2014, the U.S. Tax Court (the Court) made a decision in a case that addresses personal goodwill, the Estate of Adell v. Commissioner, T.C. Memo 2014-155. In this case, the decedent,...
View ArticleWhen 50% is Not Half
You own 50% of a closely-held (not publicly traded) company that has been determined to have a fair market value of $3 million. Your ownership interest is worth $1.5 million, right? Maybe, maybe not....
View ArticleThe IRS and Section 2036
The IRS continues to look at family limited partnerships (FLPs) and whether or not they have been formed for a sufficient business purpose. Section 2036 of the IRS Code provides that the gross estate...
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The Amazing Court Reporters
I have testified at dozens of depositions and always had a court reporter present to transcribe my testimony. In my earlier days of testifying in a courtroom, a court reporter was always present....
View ArticleThe Fraud Triangle
In order for fraud to occur, there normally needs to be three conditions present: a pressure, an opportunity and a rationalization. This is known as the fraud triangle. The first side of the fraud...
View ArticleCan You Limit ERISA/Pension Fund Withdrawal Liability?
It’s no secret that pension plans around the country are in trouble. The financial crisis of recent years has not only affected the value of securities and other investments, but has contributed to the...
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Vacancy Rate for Greater Phoenix Industrial Market Decreases in 2015
Fourth Quarter 2015 Stats Bode Well For Industrial Properties in Greater Phoenix Absorption 1.4 million square feet of space was absorbed in the fourth quarter of 2015 (Q4) which impressively was the...
View ArticleWhen Does Computer Fraud Occur?
Most information in organizations is now created, managed, and stored electronically, which has caused an increase in the rate of computer-related criminal activity. There are four situations in which...
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Number of AZ Real Estate Appraisers Could Decrease
The number of Arizona real estate appraisers could decrease at a rate of 3% per year over the next decade. According to the Appraisal Institute, the pool of real estate appraisers in the United States...
View ArticleTax Court Differs on Treatment of Built-In Capital Gains
When valuing a controlling or non-controlling interest in a C corporation that owns only marketable securities, a common method to apply is the net asset value method under the asset approach. Under...
View ArticleHow Do You Not Notice $17 Million Missing?
$16,764,128.95 – let’s think about that for a minute. Almost $17 million gone over a 9 year period – a mere $1.86 million per year. Would you notice? That’s how much the former controller for the...
View ArticleFive Easy Changes to Create Value in Your Small Business
A handful of questions to begin – Are you thinking of selling your small and medium-sized entity (“SME”)? Is your largest asset in your estate your business? Are you the CEO, CFO, general manager and...
View ArticleBrexit and Bankruptcy
How can a macro-economic event, such as when the United Kingdom voted to exit the European Union, impact everyday people and corporations and help them emerge from bankruptcy protection in the United...
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A Contract to “86” Wife Isn’t Part of the Divorce Settlement
Over the years I have been asked to be an expert regarding many marital dissolution cases. Most of my cases deal with valuing business interests held by the divorcing parties and income determination...
View ArticleValuation Issues in Divorce
Divorce can be a very emotional event, which is further complicated by the effort to equitably divide the marital assets. The parties often disagree about the value of specific assets; which assets are...
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