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Divorce Valuations—Who Owns the Personal Goodwill? |
CPE Credit
Program Type: VideoCast (Audio,Video, PPT Presentation) Program Level: Intermediate Prerequisites: Prior valuation experience is helpful in understanding the nuances of identifying and valuing personal goodwill, but it is not required. The knowledge gained from this session will be of significant benefit to even a novice appraiser as it will identify important elements in divorce valuations which will improve the skills of the valuation analyst. Advanced Preparation: None Delivery Method: Group Internet-Based CPE Credits: Two (2) Hours Fields of Study: Accounting |
Item
Number: 16PFFSD09B
Shipping Weight: 0lbs. 0oz. |
Price:
$110.00 |
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Sorry, this product is no longer available. |
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Program Description
Can the value of marital property be greater than the value of property legally owned by a spouse? Can a spouse have a marital property interest in personal goodwill in which the shareholder has no legal interest? Some states treat personal goodwill as a non-marital asset while other states treat both personal and enterprise goodwill as marital property. Under Federal tax law, corporations do not own the personal goodwill of its shareholders. In a divorce valuation of a corporation which involves personal goodwill, what is the appraiser to do? How should personal goodwill be treated in a business valuation for divorce purposes? This session will discuss these issues and provide guidance for the valuation analyst.
Learning Objectives:
After completing this webinar, attendees will be able to:
- Describe that personal goodwill is not an asset belonging to a corporation under Federal tax law - List the differences among States in the treatment of personal goodwill as marital property State the importance of applying local law in business valuations for divorce - Analyze personal goodwill in a divorce valuation context - Present a cogent analysis of personal goodwill in a valuation report
Who Should Attend
Financial professionals
Presenter(s)
Alan Zipp, CPA, JD, ABV, CVA, CBA, CFE Mr. Alan Zipp is a Certified Public Accountant, Attorney at Law, Certified Valuation Analyst®, Certified Business Appraiser™, American Institute of Certified Public Accountants® (AICPA®) Accredited in Business Valuation, Certified Fraud Examiner, author, lecturer, and discussion leader for the AICPA. Since 1970, he has provided specialized tax and financial planning advice to individuals and small businesses. He has a master of science degree in taxation, and has completed graduate work in Management Information Systems at the Wharton School.
In addition to tax matters, he has developed a specialty in the area of divorce tax and financial planning and related litigation support services. In 1980 he wrote his first book, Divorce: Tax Facts and in 1985 his second, Handbook of Tax and Financial Planning for Divorce and Separation, published by Prentice-Hall, Inc. He was awarded first place in the American Bar Association’s Family Law Section essay contest for his article, “Divorce Valuation of Business Interests: A Capitalization of Earnings Approach,” Family Law Quarterly, Vol. XXIII, No. 1, 1989. He wrote chapter 18 of the John Wiley & Sons’ Handbook of Financial Planning for Divorce and Separation on the top of business valuations for divorce purposes. He wrote the AICPA self-study course Business Valuation Methods, for CPA training in the fascinating field. He authored Divorce: Tax and Financial Planning: A Short Course for the College for Financial Planning. He wrote Divorce: Valuation, Tax, and Financial Strategies, published by Research Institute of America as part of its tax advisor’s planning series. He wrote the Small Business Valuation Case Study course for the Advanced Business Valuation Case Study course for AICPA’s Advanced Business Valuation education program. He wrote Analyzing the Value of Your Client’s Business: A Short Course for the College for Financial Planning.
Mr. Zipp has written numerous articles and papers on topics ranging from tax matters, litigation support issues, business valuation, and legal issues. For more than 20 years, he was an AICPA instructor for various courses including the annual AICPA Corporate and Individual Income Tax Workshops. He regularly presents lectures and seminars before professional organizations, including local CPA and Bar associations, national organization conferences, State CPA Societies, and AICPA conferences and seminars. He served on the AICPA steering committee on Divorce where he was involved in the planning of annual conferences on the CPAs Role in Divorce Tax and Financial Planning.
In the course of his practice, Mr. Zipp has been called on to provide expert witness testimony at divorce trials on a wide range of tax and financially related issues, including pension and business valuations. He is Chairman of the Montgomery County, Maryland Bar Association’s Taxation Section and was elected Treasurer of that Bar association. |
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