When it’s time to calculate damages, a skillful financial expert can discount future damages to present value, providing the ammunition businesses need to receive a just award. Here is an example focusing on how to ensure a reasonable discount rate. Let’s say a company fires an employee for stealing trade secrets. It goes to court to…
News
What Professional Standards Apply to Business Valuations?
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 commit substantial errors.3. Not be careless or…
How to Make the Most of the Annual Gift Tax Exclusion
The holidays often inspire a spirit of generosity. So, at year end, many people decide to give money or assets to their loved ones. Over time, lifetime gifts can also be an effective way for wealthy people to minimize their taxable estates. Here are the basic federal tax rules for these transactions. Beware: Quite a few…