Business Valuation Resources, LLC

The Pass-Through Premium: A New Perspective on an Old Issue

Date: Thursday, May 10, 2012
Time:
10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar

Earn 2 CPE credits
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Webinar - $179
Training Pack* - $179
Webinar & Training Pack* - $269

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Please note: CPE credit is not available through Training Packs
More information is available below

Featuring (click image for more information):

Eric J. Barr
CPA, ABV, CFF, CVA, CFE
Fischer Barr & Wissinger LLC

Why You Should Attend

In pass-through entities the valuation community has perhaps its oldest, least resolved, and, some would say, most poorly defined set of challenges. Despite academic studies, exhaustive professional thought, and judicial opinion, there is still a lack of consensus in this critical area of business appraisal. Yet in the face of these challenges, new work continues to push for a solution to the conundrum of pass-through entities.

In "The Pass-Through Premium: A New Perspective on an Old Issue" appraiser Eric Barr presents new thinking on pass-through entity valuation and how the appraisal community can best overcome the long-standing barriers to consensus.

Agenda

  • Introduction
    • Common Practice
    • Why it is wrong to only use 0%, 40% or maximum corporate or individual tax rates
    • Standard of Value: Fair Market Value/Fair Value/Investment Value
    • Solutions
  • Tax considerations
    • Pass –Through Entities (PTEs) – what are they and how are they different than C corporations?
    • Federal self-employment taxes
    • Differences between PTEs
    • Federal income tax rates are changing in 2013
    • Impact of state and local tax laws
    • Undistributed income – impact on after-tax cash flows, higher tax basis and potential valuation impact
  • Terms of Transaction
    • Buying assets versus equity
    • Buying equity from a S or C Corp versus buying equity from a sole practitioner, LLC or partnership
  • Factors to consider when tax-effecting a PTE:
    • Standard of Value
    • Who is the hypothetical buyer
    • Size of company's income
    • State and local income taxes
    • Year of valuation
  • Conclusion

Learning Objectives

  • Learn which factors most impact the value of a pass-through entity
  • Clarify the considerations that must be made in a pass-through entity valuation and what impact these can have
  • Learn how standards of value impact pass-through entity valuation
  • Learn how existing pass-through entity valuation theories and approaches get it wrong

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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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Training Packs

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Each Training Pack is delivered approximately 2-4 weeks after the program has aired, and includes:

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  • Audio file (MP3
  • Transcript of the presentation
  • A copy of the presentation slides
  • A copy of the reading materials, visual aids, and handouts

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