It seems like almost every month there is news of yet another massive online data breach. Capital One is just the latest company to make headlines for failing to safeguard customers’ personal info. About 100 million credit card customers and applicants across the country — including individuals and small businesses — had their information compromised.  Continue Reading »

Zausch v. Schnakenburg In a divorce case, the Indiana Court of Appeals reviewed a trial court’s post-judgment decision to modify the husband’s child support obligation upwards. The crux of the case was how to calculate the father’s income where he held minority interests in several pass-through entities (PTEs), some, but not all, of which made  Continue Reading »

The Affordable Care Act (ACA) requires companies with at least 50 employees to provide health benefits and pay for a good portion of the coverage’s cost. But many smaller employers in Maine and across the country provide health coverage too — even if they aren’t required to do so. Some do it to attract and  Continue Reading »

Lund v. Lund A protracted Minnesota buyout dispute involving the heirs to a local grocery store empire may have reached the end. The state appeals court affirmed most of the district court’s rulings, including the buyout order and fair value determination. The valuation trial featured two veteran appraisers and a judge well versed in appraisal  Continue Reading »

While people are jumping in their cars and hitting the road here in Maine for some summer adventures, you and your small business may be hitting the road in a new vehicle. If you are adding a new car or truck to your business’ fleet, the purchase could qualify for some tax breaks under the  Continue Reading »

Hultz v. Kuhn A Maryland divorce case illustrates the difficulties an appraiser charged with valuing a small company in the divorce context may face and how he or she may prevail in court. The wife was the sole shareholder in a tree services business. The issue at divorce was the size of the monetary award  Continue Reading »

Between 2010 and 2018 the median age in Maine increased from 42.7 to 44.9, this according to the U.S. Census Bureau. That 2.2 year increase is twice the national average and a reminder that our state’s population is aging. When you consider this fact alongside the recent changes in the estate tax code, it may  Continue Reading »

Galasso v. Cobleskill Stone Products In a short but very educational opinion, a New York appellate court answered a fundamental question: Under what circumstances must a valuation report be disclosed? The crucial factors were the report’s relevance and purpose.  Motion to compel disclosure The plaintiff held shares in the defendant company and sued, alleging gross  Continue Reading »

We love our four-legged friends here in Maine. You’ll often see people bring their dog along with them on their adventures, whether that be to the beach, the lake, the mountains or even a brewery patio in Portland. Which makes sense, many of us recognize and cherish the emotional support and companionship our pets provide.  Continue Reading »

Kress v. United States In a gift tax case teeming with valuation issues, one notable aspect was that, in valuing the minority shares of an S corporation, both parties’ experts applied a C corporation tax rate to the company’s earnings, and the court, without ado, accepted the practice. To what extent this court’s position reflects  Continue Reading »