Virginia Divorce Matter Results in the Court ‘Splitting the Baby’ to Value a 20% Interest in an S Corp. Medical Practice the Husband Owned

November 9, 2022 | Divorce Litigation

Hester v. Hester, 2022 Va. Cir. Several issues were decided in this Virginia divorce case. Still, we focus on only two topics relevant to business valuation and equitable distribution: (1) the valuation of the husband’s 20% interest in an S corporation; and (2) the treatment of the PPP loan. The court issued many findings dealing  Continue Reading »


The Tennessee Appeals Court Affirms the Trial Court’s Decision to Exclude From the Marital Estate Financial Advisor the Husband’s ‘Book of Business’

October 26, 2022 | Court Rulings, Divorce Litigation

Hollis v. Hollis, 2022 Tenn. App. In this case, the Tennessee Court of Appeals affirmed the trial court’s judgment that the husband’s “book of business” as a financial advisor for UBS was not a marital asset. “[T]he trial court properly identified and applied the most appropriate legal principles applicable to the decision, and the trial  Continue Reading »


Pennsylvania Appellate Court Affirms Acceptance of the Wife’s Gross Sales Valuation Method for the Marital Business but Remands for Double Counting of Business Assets

October 12, 2022 | Divorce Litigation

Snyder v. Snyder In this Pennsylvania divorce case, the Superior (Appellate) Court affirmed the trial court’s decision to use the wife’s method of valuing a marital asset business after the master concluded that the wife’s testimony was credible and that her valuation method “accurately valued the business.” The Superior Court also concluded that the trial  Continue Reading »


Bankruptcy Court Sides With Trustee—Disallows (Fraudulent) Transfers

September 28, 2022 | Court Rulings

Stone v. Citizens Equity First Credit Union The trustee for the International Supply Co. (ISCO) asked the bankruptcy court to avoid and recover prepetition fraudulent transfers made to Citizens Equity First Credit Union (CEFCU). The bankruptcy court determined that ISCO was insolvent when the transfers were made, not to satisfy its debts but rather for  Continue Reading »


Take a Proactive Approach to Thwart Cyber Attacks

September 13, 2022 | Business Plans, Fraud Prevention

The average cost of a data breach has risen to a record high, according to a new study by the independent research firm Ponemon Institute. The study found that the global average cost grew from $4.24 million per incident in 2021 to $4.35 million in 2022, an increase of roughly 2.6%. Moreover, the international average  Continue Reading »


In Appraisal Action, Court Determines Fair Value Using Deal Price Minus Synergies and Adjusting for Increase in Value from Signing to Closing of Merger

September 13, 2022 | Court Rulings

In re Appraisal of Regal Entertainment Group Summary. In a merger action involving a publicly traded company, dissenting shareholders sued for a higher value than the deal consideration. Under the applicable appraisal jurisprudence, the court determined fair value using the deal price minus synergies and adjusting for the change in the value of the target  Continue Reading »


Watch Out for Scam Charities

August 30, 2022 | Business Plans

Have you been contacted by a charity that pulls on your heartstrings and persuades you to open your wallet? There is a multitude of reputable charities doing good deeds and supporting worthy causes. But be aware of a proliferation of scam charities designed to separate you from your hard-earned money without the actual performance of  Continue Reading »


Louisiana Court of Appeals Disallows a Discount for Trapped-In Capital Gains Taxes and a Reduction in Receivables for Collectability

August 29, 2022 | Court Rulings

ShopRite, Inc. v. Gardiner The Court of Appeals was asked to review the trial court’s determinations of fair value for the shares of stock of a withdrawing shareholder. Shawne Gardiner was a withdrawing shareholder in ShopRite Inc. (3.8% interest) and Tobacco Plus Inc. (3.95% interest). Gardiner sent a formal notice of withdrawal under the Louisiana  Continue Reading »


Spotlight on a Critical Anti Fraud Tool: Risk Assessments

August 16, 2022 | Fraud Prevention

Fraud risk assessments have been shown to prevent occupational fraud and limit losses for victimized organizations. According to “Occupational Fraud 2022: A Report to the Nations,” published by the Association of Certified Fraud Examiners (ACFE), these tools have become more prevalent in recent years. But although almost 50% of businesses perform fraud assessments, many owners  Continue Reading »


5th Circuit Court of Appeals Upholds Tax Court Finding That Taxpayer Gifted a Percentage of Partnership Interests and Not a Fixed Amount

August 10, 2022 | Court Rulings, Tax Planning

Nelson v Commr., 2021 “Mary P. Nelson and James C. Nelson appeal the Tax Court’s denial of their petition for a redetermination of a deficiency of gift tax issued by the commissioner of Internal Revenue for the tax years 2008 and 2009. For the following reasons, we AFFIRM.” Facts. Mary Pat and James Nelson sought  Continue Reading »