Gift, Estate, & Income Tax Compliance
2022 02 Value Matters

February 1, 2022

Mercer Capital’s Value Matters® 2022-02

2022 Tax Update for Estate Planners and Family Businesses

Excerpted from Mercer Capital’s Family Business Director Blog

As we highlighted previously in the Family Business Director blog, companies are beginning to batten down the hatches and prepare for stormy weather.  The risk of a recession continues to escalate, and inflation printed a new four-decade high in May 2022.  Former Fed Chair and current Treasury Secretary, Janet Yellen, appeared before Congress to answer questions regarding inflation, which she sees as staying elevated for an extended period.  Gas prices hit a nationwide average of $5 a gallon for the first time ever in the United States, and little relief is on the horizon.

The Fed expects to continue raising rates to battle inflation, and a new law was passed unanimously in the House and Senate to ban the word “transitory,” which awaits President Biden’s signature. Well, maybe the last one was just floated in committee.

All to say, companies and consumers alike are feeling the squeeze, and markets are reflecting less-than-rosy expectations. At the time of this writing, the S&P 500 was down almost 16% year-to-date, while the Russell 2000 was down almost 19%.  Outside the energy sector, stocks are bleeding red in 2022 (see Figure 1).  Lower broad market pricing translates to lower valuations for family businesses.

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April 2026 | Valuation Date Discipline
Value Matters® April 2026

Valuation Date Discipline

In estate and gift tax related business valuation, few inputs are as consequential, and as frequently underestimated, as the valuation date. While the concept appears straightforward, the practical implications are anything but. The valuation date determines the universe of information available to the appraiser, frames the applicable standard of value, and anchors the conclusion in a specific economic, industry, and subject company context.
Mercer Capital to Sponsor The 32nd Annual Advanced Estate Planning Strategies Course
Mercer Capital to Sponsor The 32nd Annual Advanced Estate Planning Strategies Course
Mercer Capital is proud to sponsor the 32nd Annual Advanced Estate Planning Strategies course, a live, in-person CLE event held April 23-24, 2026, at the St. Julien Hotel & Spa in Boulder, Colorado. Representing the firm at the event are J. David Smith, CFA, ASA, and Barbara Walters Price.Presented by TexasBarCLE and cosponsored by the Real Estate, Probate & Trust Law Section of the State Bar of Texas, the course brings together attorneys and advisors for two days of in-depth discussion on advanced estate planning topics. The program features sessions addressing retirement benefits planning under SECURE 2.0, life insurance strategies, multijurisdictional planning considerations, and approaches to minimizing conflict in estate and trust administration.Attorneys attending the course will be focused on navigating increasingly technical planning issues, from evolving transfer tax rules to the practical challenges of administering complex estates. Mercer Capital regularly supports these efforts through valuation analyses used in estate and gift tax planning, charitable giving, and ownership transitions, helping clients and their advisors make informed decisions in high-stakes situations.J. David Smith is a Senior Vice President at Mercer Capital with more than 25 years of experience in business valuation. He provides valuation services for tax planning, transactional purposes, and financial reporting with particular experience in industries including financial services, oil and gas, and biotechnology.Barbara Walters Price serves as Chief Marketing Officer of Mercer Capital and is a member of the firm’s Board of Directors. She leads the firm’s marketing strategy and oversees corporate communications, business development, digital strategy, and thought leadership initiatives.Mercer Capital looks forward to connecting with attendees and contributing to the discussions at this year’s event. To learn more about this in-person CLE course, visit TexasBarCLE’s website: https://www.TexasBarCLE.com/new/?TransferTo=L23823.
Why Shareholders Feel Trapped (and What Directors Can Do About It)
Why Shareholders Feel Trapped (and What Directors Can Do About It)
This post explores how unclear liquidity pathways can create tension among family business shareholders. It emphasizes the need for structured, transparent liquidity strategies aligned with evolving shareholder needs.

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