Financial Services

Business resilience is a concept with a new meaning in a Covid-19 world. It has been defined by the National Association of Corporate Directors (NACD) as “the capacity of any entity to prepare for disruptions, to recover from shocks and stresses, and then to adapt and grow from a disruptive experience.” Resilience is the demonstrated ability to move forward

The pandemic has made life and business difficult for small business owners everywhere. The degree of difficulty varies significantly and depends primarily on the amount of physical proximity and interaction required in order for the business to be functional. Nobody signs up for these times, but there are a number of actionable steps business owners can take to build long-term

In recent years, our team has seen an increasing number of valuation requests from general partners (“GPs”) of venture capital and private equity funds related to carried interest. For those unfamiliar, the carried interest is also referred to as “the profits interest” because it entitles the GP to a portion of the profits earned by the fund. There are

Unlike public equity and fixed income fund managers, venture capital and private equity funds lack an active exchange to price the changing value of their investments. Instead, they perform valuations – oftentimes on a quarterly basis – so they can report updated values to their investors.
This year, the disruption caused by the COVID-19 pandemic presented new challenges for

Executive Summary
Recent estate planning articles are full of speculation about potential tax changes related to the upcoming 2020 US election. Here is the one consensus piece of advice observed from numerous articles by reputable tax planners and professional advisors:

  • Use your lifetime gift tax exclusion now if you can afford it.

Making gifts of appreciating property, such as privately

The coronavirus pandemic has created a period of extreme economic uncertainty. The truth is no one knows what economic conditions will be one month from today, let alone 6 to 12 months. While we would all like to believe that things will return to “normal” in the near future, that’s wishful thinking at best. Given the heightened uncertainty, one of

For more than 35 years, fairness opinions have played an integral role in merger and acquisition (M&A) and related corporate transactions. While fairness opinions were issued for deals prior to the mid-80s, the 1985 ruling in the Smith v. Van Gorkom case earned fairness opinions a much more prominent place in the deal process. Yet, the marketplace continues to struggle

When the CARES Act was enacted, all the buzz from main street was about stimulus checks as well as PPP forgivable loans. Now that things have somewhat stabilized in the markets, there are two important changes related to the CARES Act that could immediately impact your business valuation.
When the Tax Cut and Jobs Act (TCJA) first passed, it