This session will review the impact of the Tax Cut and Jobs Act of 2017on divorce litigation. Topics discussed will include issues from the clients decision to begin the divorce process, separate, discovery, mediation and arbitration and trial. A review of what are experts thinking and what are the courts doing. There will be a discussion of how the new law impacts deductibility alimony and its impact on settlements. There will also be a review and discussion on issues with business valuation as a result of the corporate tax decrease.

Participants will be able to:

• Explain the impact of the new tax as it relates to their clients and attorneys
• Reconcile the impact of the tax law on current litigation comparing old law to new law
• Employ skills and topic discussed in their current practice

This case study focuses on a real estate developer who acquired numerous shopping centers throughout the Western United States. Shortly following each acquisition, the developer filed insurance claims citing various 'natural disaster' damage such as rain, wind, hail, etc. An investigation of these claims revealed a pattern of various apparent schemes including insurance fraud, tax fraud, bank fraud, etc.

Attendees will learn:

• A critical analysis of banking and tax related documents identified the apparent fraud
• There are often multiple fraud schemes perpetrated simultaneously
• Focus needs to be on the best and clearest evidence and don't get distracted on less important tangent issues

How substantial is tax reform’s effect on business valuation? There has been a lot of discussion and interest in the new TCJA especially, but how has this changed the way we think about valuation. The panel will discuss different views on tax reform related to valuation modeling, forecasting, and subjective assumptions used when considering the TCJA. Participants can expect an interactive discussion on a variety of opinions on tax implications.

Learning Objectives:

• 1. Understand the various implications of the TCJA on pass through entity valuations.
• 2. Explore the effect on public company and transaction multiples post TCJA.
• 3. Review best practices with model considerations in light of sunset provisions.
• 4. Learn the effect of bonus depreciation and interest expense limitations

Session covers how to prepare for and testify at a deposition. Learn how to assist an attorney in taking a forensic /valuation deposition. Practical pointers on mistakes to avoid and how to be a great witness.

The attendee will:

• Determine what needs to be done before you give testimony in a case
• Analyze your role and how best to present your data in a deposition
• Identify pitfalls to avoid in the deposition process.

This session will cover components of general forensic engagement report writing (elements, planning, procedures, and writing tips) and will also identify and apply rules and requirements for a testifying expert in Federal Court.

After this session the attendee will be able to:

• 1. Identify the elements of a forensic engagement report
• 2. Determine appropriate planning and report preparation procedures
• 3. Apply writing tips
• 4. Identify and apply federal rules of evidence and required disclosure under both civil and criminal procedures

Representatives from the AICPA Business Combinations task force, which is developing an Accounting and Valuation Guide on this topic, will update you regarding the latest developments on the guide and provide an overview of valuation guidance that you can expect to see in the guide. Specifically, they will discuss the Internal Rate of Return diagnostic, valuation techniques and framework for their selection and application to acquired intangible assets, and guidance on measuring fair value of certain assets acquired and liabilities assumed with a focus on: technology & trade names, long term contracts with customers (construction or production), and operating rights.

After this session the attendee will be able to:

• 1. Learn about the Internal Rate of Return diagnostic
• 2. Understand how to select appropriate valuation techniques for valuing intangible assets acquired in a business combination
• 3. Gain a better understanding about valuing technology & trade names, long term contracts with customers (construction or production), and operating rights acquired in a business combination.

The Income Approach is the most commonly used approach to value closely held operating companies. Two key components to the Income Approach are the discount rate and net cash flow. As valuation professionals, we spend a lot of time researching, developing and evaluating the discount rate but less time on the net cash flow even though it has a significant impact on value.

This session will focus on net cash flow and common complications. We will explore the various measures of net cash flow and how to calculate it. In addition to addressing normalizing adjustments to income, we will discuss adjustments to ongoing EBITDA to arrive at net cash flow including interest (when applicable), depreciation, income taxes (for c-corps and pass-through entities), capital expenditures, working capital changes, and changes to debt (when applicable).

After attending this program, participants will have a better understanding of how to determine net cash flow for valuation purposes.

Learning Objectives:

• Define levels and measures of net cash flow
• Describe key considerations for normalizing adjustments
• Computation of adjustments to income to arrive at cash flow
• Calculation of historical and forecast cash flow
• Quantitative risks to be considered in net cash flow (instead of discount rate or DLOM)

New Section 199A offers a 20% deduction to owners of certain pass-through businesses. In this seminar, Tony Nitti will break down the statutory language as well as the proposed regulations, helping attendees understand who qualifies for the deduction and how it is computed.

Learning Objectives:

• 1. Understanding the basic structure of Section 199A.
• 2. Defining key terms: QBI, SSTB, trade or business, UBIA, W-2 wages, etc.
• 3. Identifying the critical taxable income threshold at which the determination of the Section 199A deduction goes from simple to complex.
• 4. Identifying specified service trades or businesses
• 5. Understanding aggregation rules, allocation of W-2 wages, and netting of income and losses.