The newest issue of Value Matters™, Mercer Capital’s newsletter addressing gift and estate tax, ESOP, buy-sell agreement, and transaction advisory topics of interest to estate planners and other professional advisors to business, has been published.
The focus for this issue is Gift, Estate, and Income Tax Compliance services with the lead article: 8 More Mistakes to Avoid in Valuations According to Tax Court Decisions
In this second part of a two-part series, we have collected eight examples of mistakes that valuation experts have made, as reported in federal courts tax decisions (see Value MattersTM, Issues No. 4, 2013 for “16 Mistakes to Avoid in Valuations: According to the Tax Court.”) It is important to note that there are two sides to every story, and courts do not always get it right. For this reason, we do not name any valuators in this collection of mistakes to avoid.
Also in this issue is an article entitled “Valuation Strategies for Dealing with the IRS”:
Business owners seldom think about a valuation strategy for dealing with the IRS on gift and estate tax matters. Many owners ignore the importance of estate tax planning, which can also be called lifetime planning. Lack of vision or short-sightedness on planning can be damaging to family wealth and succession.