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New Valuation Issues from a U.S. Tax Court Perspective Recording Available

by Todd Paradis | Apr 10, 2014

ASA Past-President Daniel R. Van Vleet, ASA and Robert F. Reilly, ASA co-moderated a discussion with Senior U.S. Tax Court Judge David Laro on valuation issues from a U.S. Tax Court perspective at a Business Valuation Association sponsored luncheon and presentation on Thursday, November 21, 2013 at The Standard Club in Chicago, IL.

During the presentation Judge Laro shared his views on controversial valuation issues related to expert witness and gift and estate tax decisions at the U.S. Tax Court level. The nearly 2-hour presentation was recorded by the American Society of Appraisers.

Recording will be of interest to the valuation, accounting and legal community and others dealing with tax related issues.

To purchase or for more information about the presentation recording visit ASA online or call (800) 272-8258.

About the participants:

Judge David Laro
Judge Laro, was appointed by President Bush to the U.S. Tax Court in November, 1992. He is a frequent speaker for legal and accounting organizations and has had numerous articles published. He is the co-author, with Shannon Pratt, of Business Valuation and Taxes: Procedure, Law and Perspective (2005), a 500 page text on tax valuation which is currently in use in various law schools around the country. Among the noteworthy cases which Judge Laro has decided are Simon (depreciation of antique musical instrument), Mandelbaum (lack of marketability discount), Wal-Mart (inventory shrinkage), ACM Partnership (corporate tax shelters), and Bank One (derivatives).

Daniel R. Van Vleet, ASA
Dan is a Managing Director in the Valuation & Financial Opinions Group at Stout Risius Ross, Inc. Prior to joining the firm, he was a Managing Director with both Duff & Phelps, LLC and Willamette Management Associates.
 
Dan received his MBA with Honors in finance from the University of Chicago Graduate School of Business. Dan sits on the International Executive Committee of the American Society of Appraisers and is Past-President of the American Society of Appraisers. He is a former President of the Business Valuation Association of Chicago and a former President of the Chicago Chapter of the American Society of Appraisers. He is also a member of the Chicago Estate Planning Council and the valuation editorial review board for Trusts & Estates magazine.
 
Dan has served as an adjunct professor of finance at the Graduate School of Business at DePaul University and the School of Continuing Education at Northwestern University. He also serves as a business valuation instructor for the American Society of Appraisers and is the developer of the S-Corporation Economic Adjustment Model (SEAM).

Robert F. Reilly, ASA 
Robert Reilly has been a managing director of Chicago-based Willamette Management Associates (WMA) for the last 23 years. WMA is a business valuation, forensic accounting, and financial opinion services firm. Before that, Robert was a valuation services partner for the Deloitte & Touche accounting firm.

Robert is a certified public accountant, chartered global management accountant, certified management accountant, chartered financial analyst, enrolled agent, and accredited tax advisor. He is accredited in business valuation and certified in financial forensics. He is a certified business appraiser, certified valuation analyst, certified valuation consultant, certified review appraiser, certified real estate appraiser, and accredited senior appraiser. Robert has served as a member of the American Institute of Certified Public Accountants (AICPA) forensic and valuation services executive committee (FVSEC), consulting services executive committee (CSEC), and business valuation committee (BVC). He is an inductee in the AICPA valuation “hall of fame.” He has chaired the AICPA annual business valuation conference. And, he has twice received the AICPA “volunteer of the year” award.

Robert has co-authored 12 valuation textbooks, including Guide to Intangible Asset Valuation, published by the American Institute of Certified Public Accountants in 2013, and The Practical Guide to Bankruptcy Valuation that was published by the American Bankruptcy Institute also in 2013. He has authored over 300 articles that were published in various accounting, taxation, or valuation journals. Robert has served as an editor or editorial referee for numerous professional journals. Robert currently serves as an editor for Valuation Strategies, The American Bankruptcy Institute Journal, and Construction Accounting and Taxation.

About the Business Valuation Association (BVA):
The Business Valuation Association (BVA) has been serving the valuation, business and legal communities in the Chicago area since the 1980s. The BVA provides a forum for professionals to learn about leading edge valuation issues from expert practitioners. The BVA is a non-profit entity managed by volunteer valuation professionals.