Valuation of a business is a critical and very complex element of business operations, including transfers of shares, sales, gifts, estate contributions, and donations. Asset valuations also impact litigious issues, such as divorce, insurance claims, and settlement of lawsuits. Asset valuations can have great bearing on probate proceedings upon the death of an owner. The IRS is greatly concerned with asset valuation, since it impacts the tax liability of the taxpayer.
When disputes concerning valuation arise among business owners or potential buyers of business interests, the viability of the business is undermined, possibly leading to litigation, which can be costly in terms of time and financial resources. While there are criteria traditionally relied on for valuation methods, the criteria are flexible and can be affected by court rulings, legislation, and professional trends and methodologies.
If you face a valuation dispute concerning your assets, contact our tax boutique. Law Offices of Christy Lee, P.C., keeps current on proven and accepted valuation standards, including market and economic data. We understand the consequences of outdated valuations, and we can predict the potential ramifications of the valuation on business investments and sales, including buy-sell agreements. We are informed about the guidelines the IRS consider satisfactory for valuations.
Law Offices of Christy Lee, P.C., can assist your business by:
Reviewing and critiquing your current valuation method, including reviewing your accounting techniques and books.
Determining the major needs of those involved with the valuation.
Reviewing expert valuations.
Identifying the opposition’s opinions regarding the valuation.
Engaging in negotiations and settlement.
And providing expert witness testimony.
Law Offices of Christy Lee, P.C., provides you with constructive counsel concerning asset valuations, helping to protect your interests and minimizing the stress involved as well as the time you must spend tending to the issues. Our team of professionals is trained to look at all aspects of the valuation, from its impact on the business’s day-to-day undertakings to its impact on profit and taxes. We emphasize the necessity for a current and accurate valuation based on accepted business practices, and we offer continual review of your valuations to help protect your assets. Give us a call today if you are concerned about the valuation of your assets.