December 2011, Volume 17, Number 3

Posted on December 1, 2011  


This Month’s Meeting Information:

Date: Thursday, December 15, 2011.

Place: Offices of Schechter Dokken Kanter

Time: Noon – 1:30 pm

This month’s presentation:

Ingo Schulz will present one or two recent sales for the Annual Business Valuation Contest. This is a joint ASA/NCCIBA meeting – everyone is welcome! Gift certificates will be awarded for “guesstimates” closest to the actual sale price. Please contact Dennie O’Leary if you plan to attend (

Last month’s presentation:

Thanks to John Heidebrecht for his presentation regarding the valuation of personal goodwill, including defining intangible value, an overview of relevant Tax Court and Family Court decisions, tax treatment perspectives, valuation factors to consider and valuation approaches. John also provided an in depth analysis of Howard v. United States, 2011 WL 3796723 (C.A.9)(Wash.)(Aug. 219, 2011). The central issue was the proper tax classification of goodwill during the sale of a dental practice, including whether a solely owned Washington corporation can own the goodwill generated by a dentist and whether a covenant not to compete between the dentist and the corporation affects the ownership of the goodwill.

Looking ahead:

Annual Conference: BV-22 will be held on: Wednesday, Feb 1, 2012 at the University of St. Thomas – Minneapolis Campus. Our keynote speaker is Rob Slee, with a two-session update on the Cost of Capital for private companies. Toby Madden will present the Economic Outlook; Mike Gregory will walk us through the new DLOM practice aid; and Howard Lewis is on board to describe recently approved and proposed standards changes. Rick Gray’s sessions focus on models and methods used to value FLPs, tax-affecting, and recent Court decisions of interest to valuation professionals. The team of Bill Herber, Bob Strachota, and Scot Torkelson will address unique assignments, such as valuing a conservation easement with sub-surface mineral rights. During our lunch update, they will touch briefly on techniques for appraising business with real estate components (golf courses, cemeteries, car dealerships, etc.), and answer questions.

REQUEST FOR EMAILS: we will market this year’s BV conference using “Constant Contact”, eliminating the cost of printing and mailing 1,500 brochures. In order to make sure we have current contact information, it was suggested that each member send Dennie ( the names and emails of potential attendees. Our first email blast will go out right after the holidays, but we plan to upload our information to the local websites in a week or two.

Meeting Schedule for 2011-2012

January 19, 2012 Tom Helling – report writing overview

February 1, 2012 22nd Annual Business Valuation Conference

March 12, 2012 Joint with ASA (note: Monday meeting)

April – No Meeting

May 17, 2012 TBD