Business Valuation Resources, LLC

Bernier: History, Impact, and Implementation

Date: Wednesday, March 13, 2013
Time:
10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar

Earn 2 CPE credits
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Featuring:
(click image for more information):

Marc D. Bello
CPA/ABV, CVA, CFFA, MST
Edelstein & Company

Why You Should Attend
In the November, 2012 issue of BVUpdate™, expert Marc Bello wrote of the history and implication of Bernier v. Bernier, a now 10-year old divorce case involving the valuation of two S corporations. His analysis concluded "After 10 years of deliberations, imputing income taxes to determine an equitable value of an S corp for divorce in Massachusetts remains unresolved. Although conceptual guidance, including the facts that income taxes need to be paid from S corp profits and S corps do not pay double taxation on dividends, arise throughout the Bernier hearings, the application of these concepts appears to get lost in translation."

In this webinar, Bello joins BVR to discuss the long, winding history of this case, and its legacy with regard to S corp valuation.

Agenda

  • History and background of the case
    • Background and facts
    • Standard of value
    • Premise of value
    • Level of value
  • Bernier and tax affecting
    • How the Massachusetts Supreme Judicial Court ruled
    • Incorporating Delaware Open MRI Radiology Associates v. Kessler
    • 2012 appeals decision
  • Discounts – Love'm or Leave'm
    • Discounts and level of value
    • Analysis of a key man discount
  • Standard of value
  • Impact Bernier has had on future decisions
    • Palmerino v. Palmerino
    • Caveney v. Caveney

Learning Objectives

  • Understand the history of Bernier and what its path through the courts implies for its findings
  • Learn how current case law is affecting business valuations relating to divorce
  • Understand judicial precedent being set by Bernier
  • Evaluate how the findings of Bernier will affect S Corp and other valuation challenges

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Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.

Multi-User CPE Policy
Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.

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CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 2 Credit Hours (Specialized Knowledge & Applications)

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