Archive 2018-121: Business Valuation and the Tax Cuts and Jobs Act – Q and A with Hitchner, Treharne, and Drysdale Including Detailed S Corp Examples
**Webinar 121: Live Broadcast Date: July 18, 2018 **
Jim Hitchner has been speaking and writing extensively on the affect effect of the TCJA on business valuation in 2018. During this process, he has been asked a multitude of questions on the new tax law. In this webinar, Jim brings in S corp expert Chris Treharne, author of the Treharne Model, and Don Drysdale of Gibraltar Business Valuations to answer questions on how the new law changes the way that valuations are done.
Chris and Don will also present detailed examples on how to value an S corp ownership interests under the new tax law, including a presentation of “Bolt-On” models to capture the effect of bonus depreciation and interest expense limitations.
Description and Learning Objectives:
The participant will learn the answers to scores of questions including:
- When was the TCJA known or knowable?
- Why are C corp values so much higher?
- Should I be using effective vs. marginal tax rates?
- How do I handle all the sunset provisions?
- Income approach – Can I still use a capitalized cash flow method?
- o Do I have to go to a 10- to 20- year DCF model?
- o Is there an effect on the cost of capital?
- What is the best way to apply the guideline public company method?
- Is the guideline company transactions method valid?
- How do I use so-called bolt-on models?
- How does capital expenditures and bonus tax depreciation impact value?
- How do I model interest expense limitations? (Deductible interest expense, Non-deductible interest expense, WACC)
- Are S corp models still valid?
- How do I handle state taxes?
- Are revenues affected?
- What are the industry and other carve-outs?
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