Our lead article addresses the 2012 gifting opportunity. Don't let the coming logjam affect your clients. Also, we review Wandry v. Commissioner, provide a recap of the 2012 NCEO Conference, and share information resources of possible interest to you.

The 2012 Gifting Opportunity

Don't Let the Coming Logjam Affect Your Clients

by Z. Christopher Mercer, ASA, CFA, ABAR

"We anticipate being inundated by last minute planning, and it could become a real problem. When everyone's getting it done at once, it'll be one big logjam." - Scott Farber, wealth strategist with U.S. Trust

During the 2012 calendar year, individuals can gift, or give away, as much as $5.12 million and pay no federal gift taxes on the gifts.

Many estate planners have already begun planning with clients and currently there is an expected crush of planning that will take place at year-end.

This article provides additional background and perspective about the 2012 gifting opportunity for individuals, couples, and smaller estates, as well as advice on what you should look for in a business valuation firm. 

Wandry v. Commissioner

by James E. Graves, ASA, CFA

"The Wandry case is a boon not only for business owners but also wealthy families with 'family limited partnerships' or entities holding publicly traded stocks." - The Wall Street Journal

Jim Graves reviews this important Tax Court decision.


Recap of 2012 NCEO Conference

by Wendy S. Ingalls, CPA/ABV, CBA, ASA

The 2012 Annual Conference of the National Center for Employee Ownership was held in Minneapolis, MN. Mercer Capital was there. Wendy Ingalls provides a short recap.


Other Resources of Note

Valuation Speak | Chris Mercer's blog
Statutory Fair Value in New York | Chris Mercer
Business Valuation Profession by the Numbers & Outlook | Tim Lee
Non-Traditional Transaction Structures for Banks webinar replay


As a bonus for Value MattersTM subscribers, upon publication of each issue we update key economic indicators found in Mercer Capital's National Economic Review and present them for your information.

You are free to reproduce these charts with attribution. 

The National Economic Review ("NER") is an overview of the major factors affecting the US economy. 

Mercer Capital began publishing the NER over 20 years ago. Each full report includes discussions of the current and expected performance of the national economy, interest rates, employment, inflation, the stock and bond markets, and construction, housing and real estate.

Information provided for Value MattersTM subscribers includes:
  • Real GDP
  • Unemployment Rates
  • Trends in Leading, Coincident, and Lagging Economic Indicators
  • Housing Starts
  • Broad Market Index Cumulative Price Returns

Mercer Capital on the Road

July 20, 2012
"Buy-Sell Agreements In-Depth"
Wealth Counsel Annual Symposium
Z. Christopher Mercer, ASA, CFA, ABAR

August 9, 2012
"Errors, Challenges, & Solutions in Business Appraisal Reports "
BV Resources Webcast
Timothy R. Lee, ASA

VOLUME 2012-03

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Copyright © 2012 Mercer Capital, All rights reserved.

Value Matters (TM) is published six times a year and does not constitute legal or financial consulting advice. It is offered as an information service to our clients and friends. Those interested in specific guidance for legal, tax, or accounting matters should seek competent professional advice. 

Mercer Capital is a national business valuation and financial advisory firm. We offer a broad range of valuation services including corporate valuation, gift and estate tax valuation, buy-sell agreement valuation, financial reporting valuation, ESOP and ERISA valuation, and litigation and expert testimony consulting. In addition, Mercer Capital can assist with transaction-related needs, including M&A advisory, fairness opinions, and strategic alternatives assessment.

To discuss a valuation issue in confidence, please contact us at 901.685.2120 or via email.

Tim Lee

Nick Heinz

Travis Harms

Jim Graves

Wendy Ingalls

Matt Crow

Chris Mercer