Business Valuation and Federal Taxes: Procedure, Law, and Perspective, 2nd Edition

By Shannon P. Pratt and Judge David Laro (U.S. Tax Court)

Judge David Laro and Dr. Shannon Pratt have combined their knowledge and expertise to provide for the first time in a single text insightful perspective and discussion on critical issues, procedures, and law pertaining to business valuation and taxes. The book includes extensive illustrative excerpts from opinions of all courts that rule on tax cases and the application of the fair market value standard; explanation of S corporation valuation; candid commentary on experts’ strengths and weaknesses; acceptable tabular-presentation approaches; procedural issues, burden of proof, and choice of courts; and other matters related to valuing businesses for tax purposes.
482 pages

Table of Contents

Foreword to Second Edition.
Foreword: Legal Practitioner's Perspective.
Foreword: Law Professor's Perspective.
Foreword: Business Appraiser's Perspective.
Preface to the New Edition.
Acknowledgments.
About the Authors.
CHAPTER 1: Standards of Business Valuation.
CHAPTER 2: Subsequent Events.
CHAPTER 3: Business Valuation Experts.
CHAPTER 4: Sources of Law and Choice of Courts.
CHAPTER 5: Burden of Proof in Valuation Controversies.
CHAPTER 6: Penalties and Sanctions.
CHAPTER 7: How the Form of Entity Affects Valuation.
CHAPTER 8: Valuation of S Corporations and Other Pass-Through Tax Entities: Minority and Controlling Interests.
CHAPTER 9: Transfer Pricing.
CHAPTER 10: Customs Valuation.
CHAPTER 11: Adjustments to Financial Statements.
CHAPTER 12: Comparative Financial Statement Analysis.
CHAPTER 13: Economic and Industry Analysis.
CHAPTER 14: Site Visits and Interviews.
CHAPTER 15: The Income Approach.
CHAPTER 16: The Market Approach.
CHAPTER 17: The Asset-Based Approach.
CHAPTER 18: Entity-Level Discounts.
CHAPTER 19: Minority Discounts/Control Premiums.
CHAPTER 20: Discounts for Lack of Marketability.
CHAPTER 21: Other Shareholder-Level Discounts.
CHAPTER 22: Personal versus Enterprise Goodwill.
CHAPTER 23: Weighting of Approaches.
CHAPTER 24: IRS Positions.
CHAPTER 25: Business Appraisal Reports.
CHAPTER 26: Valuation of Options.
CHAPTER 27: Questions to Ask Business Valuation Experts.
APPENDIX A: International Glossary of Business Valuation Terms.
APPENDIX B: Bibliography.
Table of Cases.
Index.

Author/Editor: David Laro and Shannon Pratt
Publisher: Wiley, John & Sons, Inc.
Published: May 2011
Type: Hard Cover