Hello, Everyone,
As this issue goes to press, tax reform is still taking place in Washington, DC. It will be interesting to see how tax reform affects our profession. Included here are two articles on valuations of pass-through entities: “Testing the S-Corp Value Premium for Realism and Reasonableness,” by Sarah von Helfenstein, and “Valuing S Corporations: An Extension of SEAM,” by Gabriel Ratliff. A basic tenet of valuation is that the after-tax cash flows are what are important to investors. I hope these two articles will contribute to the consideration of the issues with respect to pass-through entities. In addition, you will find “Estimating Terminal Values with Inflation: The Inputs Matter—It Is Not a Formulaic Exercise,” by Bradford Cornell and Richard Gerger. Many thanks to Dr. Cornell for the articles he has published over the years in the Business Valuation Review.
I had considered writing a bit on the...
