For married people with large estates, the Tax Cuts and Jobs Act (TCJA) brings welcome relief from federal estate and gift taxes, as well as the generation-skipping transfer (GST) tax. Here’s what you need to know and how to take advantage of the favorable changes. Estate and Gift Tax Basics The TCJA sets the unified…
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What Is the Correct Standard of Value in Divorce?
Business valuation is an evolving discipline. In some jurisdictions, investment value — rather than fair market value — has emerged as the preferred standard of value in some divorce cases. This trend is important to monitor to ensure your valuation expert estimates the correct standard of value. If not, a court may disregard his or her conclusion….
How a Valuation’s Purpose Affects Its Value
What is the value of my business? That’s the question every business owner wonders from time to time. But the correct answer varies depending on the purpose of the appraisal. Different rules and “standards of value” may apply in different circumstances. Fair Market Value In the United States, the most widely recognized and accepted standard…