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The Wandry Taxpayers Found The Formula

April 2012 | Issue 57 Introduction Taxpayers making gifts of hard-to-value property will sometimes employ a “formula clause” which enables them to retroactively adjust the size of their gift based on a value determination carried out subsequently to when the gift was made.  This is usually done in order to keep the overall size of [...] More...

Courts Allow Reallocation of Gifted Shares

January 2012 | Issue 56 Introduction The U.S. Court of Appeals for the Ninth Circuit, in Petter v. Commissioner, 653 F. 3d 1012, (8/4/11), found for the taxpayer in a case involving the use of a “formula clause” to reallocate gifts of property to heirs and charity. > The Plan Anne Petter lived in Washington [...] More...

Book Value was 2% of Fair Market Value in NJ Buyout Case

November 2011 | Issue 55 In Estate of Cohen v. Booth Computers (421 N.J. Super. 134, 22A. 3d 991, July 13, 2011), the question addressed was whether a family partnership agreement that provides for a buyout based on net book value may be enforced when the disparity between book value and fair market value is [...] More...

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Professionals

Professionals Who Are Qualified

The staff at Hempstead & Co. Inc. consists of a group of dedicated professionals with backgrounds in valuation, finance, accounting, economics, engineering and investment banking.

Professional designations held by Hempstead & Co. Inc. appraisers include Senior Member, American Society of Appraisers (ASA), Chartered Financial Analyst (CFA) and Accredited Member (AM).

Following is a list of the valuation and financial consulting professionals at your service:

John E. Hempstead, ASA, CFA, Managing Director  jeh@hempsteadco.com

J. Mark Penny, ASA, Managing Director  jmpenny@hempsteadco.com

Daniel A. Lisman, CFA, Vice President  dlisman@hempsteadco.com

David N. Routzahn, Jr., ASA, Vice President  droutzahn@hempsteadco.com

Michael D. Cunningham, ASA  mcunningham@hempsteadco.com

Anthony J. Pumphrey, CFA, Associate Appraiser  apumphrey@hempsteadco.com