Dennis Stuchell

Startup Valuations Under Scrutiny

by Dennis Stuchell 1. February 2016 16:51
The SEC has been questioning large mutual fund companies on their processes in valuing startup companies. It is becoming concerned about the proper pricing of these private technology shares as mutual funds have increased their holdings in these securities. For instance, the mutual funds often repor... [More]

10 Years of Sarbanes-Oxley

by Dennis Stuchell 23. October 2012 09:45
It may be hard to believe, but the Sarbanes-Oxley Act and the Public Company Accounting Oversight Board (PCAOB) have been with us now for ten years. And the PCAOB inspections of audit issuers continue to find serious deficiencies. During a recent keynote address at the American Law Institute (ALI) ... [More]
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Categories: Advisory

Private Equity Deals Reward Larger Companies

by Dennis Stuchell 10. September 2012 13:47
  Private equity investors in the middle market are paying significantly higher multiples to acquire larger firms, while the premium investors place on above-average financial performance is diminishing, GF Data reports. “The tired cliche is proving out this year. Size does indeed matte... [More]
Categories: Advisory

30% of CFOs See Transfer Pricing as the Greatest Risk

by Dennis Stuchell 26. July 2012 15:40
Among 60 chief financial officers of companies with more than $1 billion in annual revenues, nearly one-third (30%) said that transfer pricing was their biggest tax-related challenge and risk, according to a new survey by Alvarez & Marsal reported by Only four CFOs reported spending mo... [More]
Categories: Advisory

Landmark decision by the U.S. Tax court provides guidance for a defined value clause (formula clause gifts) used in the taxpayer’s gifting strategy

by Dennis Stuchell 18. June 2012 08:45
  In March of 2012, the U.S. Tax Court filed its memorandum of findings regarding a defined value clause used in the taxpayer’s gifting strategy in Wandry v. Commissioner (March 26, 2012).  Not only was the decision a big win for the taxpayer, but the Tax Court provided guidance for... [More]
Categories: Tax

Tax Court Continues to Crack Down on FLPs

by Dennis Stuchell 8. February 2012 08:45
A recent U.S. Tax Court case (Estate of Liljestrand) reminds us that proper planning is essential when forming a Family Limited Partnerhship (FLP).  The Court included the FLP assets in the estate and hit the taxpayer for an additional $2.5 million in estate taxes.  The Cour... [More]
Categories: Advisory | Tax

$3.7 Billion in Valuation Discounts

by Dennis Stuchell 25. July 2011 09:09
“There were 102,608 gifts given in 2008 against which valuation discounts were taken,” reports IRS economist Melissa J. Belvedere in the recent IRS publication 2008 Gifts, “and the dollar value of these discounts totaled $3.7 billion.” Of the 234,714 returns filed for Gift Ye... [More]
Categories: Advisory