A common question posed to business valuation experts who testify in court is: “Did you follow appraisal standards in performing your engagement?” The next question is likely to be: “Which ones?” There are a number of different standards that cover business appraisal practice. USPAP Requires Appraisers to: 1. Understand and correctly employ recognized methods. 2. Not…

By what “standard of value” should a business be appraised? That may sound like a peculiar question at first blush, but it is one that has a significant meaning when one is determining the value of a private business interest. According to the International Glossary of Business Valuation Terms, “standard of value” refers to the…

Are you an “experienced” taxpayer? Here are a couple of age-based tax breaks that seniors shouldn’t overlook when filing their 2016 returns. 1. Claim Your Rightful Medical Expense Deductions If you’re 65 years of age or older, you may have fallen into the habit of automatically claiming the standard deduction instead of itemizing your deductions….