The classic definition of the term “fair market value” is that developed by the Internal Revenue Service in Revenue Ruling 59-60:
“The price at which property would exchange hands between a willing buyer and willing seller, neither being under compulsion to buy nor sell and both having reasonable knowledge of relevant facts.”
At Maloney and Kennedy, PLLC we have been providing valuation reports for over fifteen years and have provided expert testimony supporting those valuations.
Our valuation services are always held to the highest standards as required by the American Institute of Public Accountants (AICPA). Our analyses, opinions, and conclusions are developed, and our reports are prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.
Valuation services are not only needed for the sale or purchase of a business, but are also useful for:
- Determination in a Divorce Estate
- Estate Taxes and Estate Planning
- Retirement Plans
- Gifting of a Business Interest
Our opinion on Fair Market Value is the result of an analysis of financial and/or business information and the selection of appropriate valuation criteria. Valuation criteria will vary, depending on the facts and circumstances and the information available. There are many methods that can be used to value a business; we consider all relevant valuation approaches and methods during the course of our work to determine Fair Market Value.
When acting as an “Appraiser,” we exercise independent judgment and utilize sound evaluation methods to arrive at an appropriate valuation conclusion.