Shannon Pratt Business Valuations - Business Valuations and Taxes: Procedure, Law, and Perspective

Business Valuations and Taxes: Procedure, Law, and Perspective

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 tabularpresentation approaches; procedural issues, burden of proof, and choice of courts; and other matters related to valuing businesses for tax purposes.
480 pages

Contents

1 Standards of business valuation 1
2 Subsequent events 17
3 Business valuation experts 24
4 Sources of law and choice of courts 48
5 Burden of proof in valuation controversies 55
6 Penalties and sanctions 63
7 Valuation and choice of entity 70
8 Valuation of S corporations and other pass-through tax entities : minority and controlling interests 79
9 Valuation of international transactions 137
10 Adjustments to financial statements 153
11 Comparative financial statement analysis 159
12 Economic and industry analysis 168
13 Site visits and interviews 178
14 The income approach 181
15 The market approach 209
16 The asset-based approach 260
17 Entity-level discounts 266
18 Discounts for lack of marketability 282
19 Other shareholder-level discounts 311
20 Weighting of approaches 324
21 Valuation of options 328
22 IRS positions 340
23 Business appraisal reports 383
24 Questions to ask business valuation experts 400
App. A IRS business valuation guidelines 407
App. B International glossary of business valuation terms 412