Blog

I have had some trouble getting online since Blogger upgraded from beta, but I’m back! I’ll be posting later this week to discuss a California divorce decision that some are calling “the Mandelbaum of reasonable compensation cases.”

Short week: happy Thanksgiving! FamilyLaw Prof Blog reports on a New York State case in which a divorce lawyer was held liable for the client’s loss resulting from a delay in transferring retirement funds. An important reminder to us all!

On the PBI “Family Law Update” satellite broadcast yesterday, I said that I would post the citations to the cases that were not included in the written materials. Here they are: Koehler, 2005 WL 4312126 (Northamp.2005) Johnson, 2006 WL 2589787 (9/11/2006) Johanson v. Commissioner, T.C. Memo 2006-115 Kean v. Commissioner, 407 F.3d 186 (3d Cir.2005) Salesky v. Commissioner, T.C. Memo 2006-162 I appreciate all of the good feedback that we […]

One of the long-standing principles of evidence is the rule that restricts the courts from hearing the testimony of legal experts as witnesses who can explain the law. The reason for the rule is that judges are expected to form their own opinions of the law and how it applies to a case. That rule once made sense, in the days when most judges heard cases ranging from admiralty to […]

The TaxProf Blog reported an interesting story about a husband who failed to report his share of passthrough income from the medical billing company that he and his estranged wife owned together. The Tax Court was not impressed with the husband’s explanation that his wife had locked him out of the home where the business was located, raided their business and personal bank accounts, and ran up more than $50,000 […]

A hot topic confronting the valuation community these days is whether to discount the earnings or cash flows of a Subchapter “S” corporation by subtracting the shareholder-level income taxes before capitalizing those earnings or cash flows in a business valuation. Intuitively, it stands to reason that an S corporation is not intrinsically more valuable than a C corporation that would generate the same net income or cash flow if it […]