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My next few monthly letters will discuss aspects of the fair market value standard governing tax-related valuations. Its foundation is Revenue Ruling 59-50, a six-page document downloadable free from many sources. My appraisal teachers strongly recommended rereading it often, and I have done that for 30 years, invariably gaining new insights each time.
A common issue I deal with is in Section 3, Paragraph 3 of the Ruling, which states in part that:
“Valuation…must be based on facts available at the required date of appraisal.”
This has several important implications:
Valuations play a part in all tax, transaction, and litigation matters. For additional information or advice on a current one, please do not hesitate to call.
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About Western Reserve Valuation Services LLC
Western Reserve Valuation Services LLC, based in Columbus, Ohio, is a leading provider of valuation services and financial opinions relating to corporate finance transactions, corporate tax planning and compliance, succession planning and wealth preservation, employee stock ownership plans (“ESOPs”), financial reporting and portfolio / fund valuations. For more information, visit www.wesresvaluation.com or call (614) 448-3700.
Western Reserve Valuation Services is an affiliate of Western Reserve Partners LLC, a FINRA-member investment banking firm offering financial advisory services relating to mergers and acquisitions, capital raising and financial restructuring. For more information on Western Reserve Partners, please www.wesrespartners.com or call (216) 589-0900.