Many stocks — such as Walmart, Dell and Google — trade on the New York Stock Exchange or another public stock exchange. Shares in public companies can be converted to cash within a few days. But privately-held business investors don’t have the same luxury. Their investments can take months or even years to sell. Discounts for lack of…

By what “standard of value” should a business be appraised? That may sound like a peculiar question at first blush, but it has a significant meaning when determining the value of a private business interest. Most often, people who are unfamiliar with the nuances of business valuation recognize the term “fair market value” (FMV). However, there…

Every year, the United States experiences natural and manmade disasters, ranging from hurricanes and earthquakes to wildfires and electrical grid failure. If you’re unlucky enough to suffer a disaster-related loss, you’ll need to understand the federal income tax rules to determine whether you’re eligible for a casualty loss deduction. Personal Casualty Loss Deduction Basics You can potentially…