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 Experienced Appraisal, Economic and Litigation Support Services  

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Estate of Barbara Purdue v Commissioner, T.C. Memo. 2015-249

Posted on February 27, 2016 at 7:20 PM Comments comments (7)

Estate of Baraba Purdue v Commissioner, T.C. Memo. 2015-249: The State of FLP and IRS Challenges to their Formation

In the past year there have been few FLP opinion from the U.S. Tax Court. Not to worry!  One of the more recent cases is from the west  side of WA, this a term thet folks in Central and Eastern Washington Stte to refer to cities west of the Cascade mountain range and often to folks from the Seattle metro area. 

This caught my eye to...

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Book Review Done and Events Coming Up

Posted on February 25, 2016 at 3:00 PM Comments comments (0)

Recently, I had the opportunity to work with Robert Cimasi and  Todd Zigrang, leaders of Health Capital Consultants, to review a recent two-volume series they published called "The Adviser's Guide to Health Care, 2nd edition."  The review was published in www.quickreadbuzz.com and I go into details.  Practitioners and established national law firms contributed to the publication.  In short I recommend the book from these two thogh...

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New Valuation Standards Announced June 24 2015

Posted on June 24, 2015 at 8:45 AM Comments comments (0)

On June 24, 2015, The National Association of Valuators and Analysts (NACVA) announced revised professional standards at its Annual Conference in New Orleans.   This is an important revision since the standards govern what must be considered and included in business valuation reports and expert reports.  A copy of the new standards is available at this link, otherwise, please feel free to contact me at rca...

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The $1.5 Million Dollar "Expert" ... Fails to Impress the Court

Posted on September 18, 2014 at 1:15 PM Comments comments (2)

Every valuation expert dreams of getting paid $1.5M (yes, million!) for a three week engagement.  I polled my colleagues and most indicated that they would have done the case in question for 10% or less than the luminary in the case In re Lightsquared, Inc.  , a Chapter 11 case from the SDNY. http://www.nysb.uscourts.gov/sites/default/files/opinions/228464_1631_opinion.pdf.

Was this expert incompetent? Connected?  Where the attorneys that retained ...

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Perterson v. Commissioner - 409A Issues and Mary Kay

Posted on July 16, 2014 at 7:55 AM Comments comments (0)

Very few Mary Kay representatives are able to make a living just selling the products.  This Tax Court case involves one representative that did manage to do well, but who ran into some issues attempting to convert wages into retirement distributions, not subject to self-employment tax. So, why talk about this in a valuation blog?  Because normalization of compensation is part of the valuation analysts job and this case underscores the some of the difficult issues that arise.  ...

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Whitehouse Limited Partnership and the Gross Overstatement Penalty

Posted on July 8, 2014 at 5:05 PM Comments comments (1)


The Whitehouse case is a case that has been in the news for years and one where the AVW 90 team has discussed in webinars over the past few years.  By way of background, the taxpayer sought a deduction for a conservation easement an the U.S. Tax Court severely criticized the underlying work and assessed the 40% o...

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The Business of Marijuana ... What is it Worth? What is the Return on Investment? (Just the facts please, don't blow smoke)

Posted on July 4, 2014 at 12:05 AM Comments comments (0)

July 7 2014 is an important date for many in Washington, including the State of Washington which expects to reap some tax revenue from the recreational users and the dispensaries that are about to expand or open and cater to the recreational crowd .... once regulatory approaval is received.  The pizza shops business will be booming! (Having fun here)  The first few weeks and perhaps months will be hectic for the new entrepreneurs, landlords, and state, city regulators.   In the...

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NACVA and CTI Conference in Las Vegas - Thoughts

Posted on July 3, 2014 at 8:50 PM Comments comments (0)

The National Association of Certified Valuation Analysts (NACVA) and Consultants Training Institute (CTI) finished their annual meeting at the Wynn in Las Vegas.  This was a good meeting since there are a number of significant practice changes occuring.  Some of the name speakers included Dr. Pratt and Roger Grabowski of Duff & Phelps.  It was good reconnecting with them and hearing them speak about the cost of capital and closely held companies.

Now, a gr...

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NACVA and CTI Conference in Las Vegas - Week of June 17

Posted on June 14, 2014 at 12:00 AM Comments comments (0)

I am looking forward to the NACVA and Consultants Training Institute (CTI) Conference in Las Vegas this coming week. It is being held at the Wynne Resort.  I am looking forward to it since I will be teaming up with some great professionals to discuss law firm valuations and issues with restaurant valuations.  I am also looking forward to reconnecting with the valuation and litigation suppport network and seeing if any local competition (friendly) will be attending the Conference. &#...

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Law Website is Up ,,, Now the Search Engines Need to Find It!

Posted on June 13, 2014 at 11:55 PM Comments comments (1)

My law practice website is finally up (about 2 months behind schedule), It is at www.rcastrolaw.com.  Check it out!

What struck me as I set it up was that there are other Castro attorneys in the US that also have an R initial in their name and they did not set up a website or secure a domain name.  Time will tell whether these other Castro's made a sound decision or fell asleep at the wheel.  I will be ma...

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