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Using the Weighted Average Cost of Taxation (WACT) to Estimate Pass-Through Entity Value

Business Valuation

 Using the Weighted Average Cost of Taxation (WACT) to Estimate Pass-Through Entity Value
CPE Credit

Program Type: Recorded Webinar(Audio, PPT Presentation)
Program Level: Intermediate
Prerequisites: Previous training or research on subject matter being taught. Basic understanding of estate planning concepts.
Advanced Preparation: None
Delivery Method: Group Internet-Based
CPE Credits: One (1) Hour
Fields of Study: Accounting
Item Number: 13PBV1021
Shipping Weight: 0lbs. 0oz.
Price: $80.00
Program Description

This webinar will review the IRS case history involving taxation issues surrounding pass-through entities. Topics reviewed include the landmark cases Gross v. Commissioner, Heck v. Commissioner, Adams v. Commissioner, and Delaware Open MRA v. Kessler. Discussion will focus on alternative methods for tax-affecting pass-through entities by assigning a premium to the entity based on its tax advantaged status and upon using the weighted average cost of taxation or WACT methodology.

Learning Objectives

After completing this webinar, attendees will be able to:

- Gain a deeper understanding of some of the detailed case issues in Gross v. Commissioner
- Identify the tax-affecting issues involved in Delaware Open MRI v. Kessler and how that court resolved them
- Differentiate between premium methodology and weighted average methodology for tax-affecting pass through entities
- Apply premium and weighted average models to their pass-through entity valuations

Who Should Attend

Any practitioner who desires to stay on the leading edge of the valuation profession


Frank Wisehart, MBA, CPA/ABV, CVA, CFE
Mr. Frank Wisehart is the director of Business Advisory Services for Schneider Downs in Columbus, Ohio. Mr. Wisehart has over 20 years of experience in business advisory including management consulting, litigation support, strategic planning, and financial/transaction due diligence. Mr. Wisehart is a qualified expert witness in both federal and state courts. Mr. Wisehart has testified as a qualified expert in matters of forensic accounting, fraud examination, business valuations, economic damages, lost wages, family law, dissipation of marital assets, bankruptcy, breach-of-contract and general commercial litigation.

Mr. Wisehart is a featured speaker for the Ohio State Bar Association (OSBA), Columbus Bar Association (CBA), Toledo Bar Association (TBA), Internal Revenue Service (IRS), National Business Institute (NBI), and the Ohio Society of Certified Public Accountants (OSCPA). Mr. Wisehart is a faculty member of the National Association of Certified Valuators and Analysts™ (NACVA®), Association of Certified Fraud Examiners (ACFE), and the Career Training Institute™ (CTI™). Topics Mr. Wisehart has authored and taught include business valuation, personal and business damage calculations, fraud examination, report writing, and expert testimony technique.

Frank's depth of experience in business advisory encompasses a variety of clients including individuals and large public corporations. Prior to Schneider Downs, Frank served as President of Wisehart & Wisehart, Inc., a CPA firm specializing in business valuations, litigation support and forensic accounting.