With the federal estate tax exemption at a generous $5.49 million for 2017 (up from $5.45 in 2016) the topic of estate planning may have fallen completely off your radar. After all, you may think there’s no way your estate would lose money if you happen to die between now and the end of 2017,…

Is business valuation an art or a science? Years ago, this question was put to a panel of business valuation experts at a training session, and predictably there was no consensus. One noted expert said business valuation was more of a science, but he also acknowledged that it had some aspects of art as well. Another panel…

The discount for lack of marketability is an often-contested valuation adjustment that requires a particularly detailed process. When calculating any valuation adjustment, an appraiser obviously can’t just pick a number out of a hat. No Random Numbers Appraisers use empirical evidence, such as restricted stock studies and pre-initial public offering studies, and more to quantify…