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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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Anthony J. Pumphrey, CFA

QUALIFICATIONS AS AN APPRAISER OF CORPORATE SECURITIES

Anthony Pumphrey serves as an Appraisal Associate at Hempstead and Company, Inc. He participates in the appraisal of closely held firms for numerous purposes including estate and gift tax planning, recapitalization, employee stock ownership programs, mergers and acquisitions, financial reporting, litigation support, fairness opinions, and other matters. His industry experience includes arts and entertainment, construction, education and health services, engineering, finance and insurance, information services, leisure and hospitality, manufacturing, real estate, transportation and warehousing, and wholesale and retail trade.

Mr. Pumphrey has earned the right to use the Chartered Financial Analyst (CFA) designation. He has passed the BV201 and BV202 education courses offered by the American Society of Appraisers (ASA) in the discipline of business valuation.

Mr. Pumphrey holds a Bachelor of Business Administration degree in Finance and Real Estate with honors from Temple University. He is a member of the CFA Society of Philadelphia, the CFA Institute, and the Delaware County Estate Planning Council.