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Valuing the Closely Held Business
The assessment of replacement compensation generally includes a review of industry statistics and other pertinent factors, including the experience and judgment of the valuation expert. Before a level of replacement compensation can be determined, the valuator must consider numerous factors including, but not limited to, the types of duties that the owner performs in his/her position with the business, the owner's education and level of experience, and the number of hours the owner works in comparison to non-owner employees who perform similar duties and have a comparable educational and experience background as the owner. In addition, the size of the company, the complexity of its organizational structure and the geographical region of the country may impact the decision-making process relative to the level of replacement compensation to utilize.
In order for replacement compensation to have a true economic basis, it must be reasonable for the circumstances at hand. One of the most developed areas of the law involving replacement compensation issues evolved from tax court decisions that were argued for purposes of assessing the ordinary and necessary nature of the expense for executives and/or related parties. In addition, the tax courts have ruled, and have provided guidance, within the context of valuation for estate and gift tax purposes. As a result of the numerous tax court decisions that have been handed down on this subject area, it can be helpful to look to those court decisions for guidance in matrimonial cases.
Mad Auto Wrecking Inc. v. Commissioner
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.