North Carolina Court Looks to Deal Price for Fair Value in Tobacco Merger

September 21, 2020 | Court Rulings, Valuations

Reynolds American Inc. v. Third Motion Equities Master Fund Ltd. The importance of Delaware appraisal jurisprudence beyond state borders was on display in a recent fair value decision out of North Carolina related to a merger involving the tobacco giant Reynolds. After an exhaustive analysis of the facts and Delaware legal principles, the North Carolina  Continue Reading »

Is Your Company in Compliance with Federal Anti-Discrimination Laws?

September 14, 2020 | Business Plans

While the COVID-19 pandemic continues to be at the top of most employers minds, it’s important to not forget important employment laws and regulations. The Equal Opportunity Employment Commission (EEOC) is reminding employers to follow and be mindful of these major anti-discrimination laws as they work through these unprecedented times. Civil Rights Act The Civil  Continue Reading »

Court Affirms Plaintiff’s Showing of Loss of Income Pursuant to Business Interruption Policy

September 7, 2020 | Court Rulings

Binghamton Precast & Supply Corp. v Liberty Mutual Fire Insurance Co. Filing a business interruption claim has become one of the first remedies businesses suffering from the economic consequences of COVID-19 look to in an attempt to mitigate the damage to their operations. But the process is hardly trouble free, as this pre-COVID-19 case illustrates.  Continue Reading »

The IRS Is Making Small Tax Refund Interest Payments to Some People

August 31, 2020 | IRS Regulation, Tax Preparation

A small payment from the IRS may be coming your way in the near future. The tax agency announced it was sending interest payments to those who filed their 2019 returns by this year’s extended July 15 deadline and either received a refund in the past three months or will receive a refund. An estimated  Continue Reading »

Court Finds Delayed Disclosure of Expert’s Complete Report ‘Substantially Justified’

August 24, 2020 | Court Rulings, Valuations

Wright v. Old Gringo, Inc. In this discovery dispute, the defendants sought to exclude the plaintiff expert’s valuation report, arguing it was untimely and the late disclosure would hurt the defendants. In rejecting the defense motion, the court noted any delay was largely caused by the defendants’ discovery tactics to thwart production of vital financial  Continue Reading »

The IRS Releases this Year’s Top Tax Scams

August 17, 2020 | Financial Planning, Fraud Prevention, Tax Planning

The IRS compiles and shares a list of common tax scams each year. This year, with the COVID-19 pandemic complicating tax matters in numerous ways, scammers are becoming more aggressive and sophisticated in their methods. Here are some of the scams you should look out for in 2020. Phishing Phishing is a practice that’s been  Continue Reading »

Washington Appeals Court Issues Key Ruling on Entity Goodwill

August 10, 2020 | Court Rulings

McLelland v. Paxton In a “complicated” (court’s word) dissolution case, the Washington Court of Appeals recently made an important ruling on whether a professional limited liability company (PLLC) can have goodwill separate from the goodwill of the professionals. Focus on location In 2005, the plaintiff, through his professional service corporation, acquired an ownership interest in  Continue Reading »

Midyear Tax Planning Ideas

August 3, 2020 | IRS Regulation, Tax Planning

With the extended July 15 deadline for 2019 federal income tax returns behind us, it’s time to think about your tax situation for this year. Obviously, 2020 has been far from typical, and it is quite possible that this abnormal year has created some abnormal tax considerations. The COVID-19 pandemic has resulted in many losing  Continue Reading »

Synergy Deduction Purely Academic in New Delaware Appraisal Ruling

July 27, 2020 | Court Rulings, Valuations

In re Panera Bread Company In a statutory appraisal case that involved the sale of a publicly traded company to a privately held entity, the Delaware Court of Chancery recently decided the deal price was a reliable indicator of fair value and a downward adjustment for synergies was justified but not practicable. But, because the  Continue Reading »

Employees Working at Home? Rethink Your Space Needs.

July 20, 2020 | Business Plans

When the COVID-19 pandemic hit Maine and shut down most of the state, many companies who were able to have employees work from home did so. Even now, as offices in Portland and throughout Maine begin to welcome back workers, many companies are continuing to have employees work from home. If you currently have employees  Continue Reading »