Private Client Valuation Update – Commentary on Tax Law, Court Cases, Market Multiples, Discounts, Interest Rates and More

What a difference a few months and an unusual election season can bring. Let’s recall what was, or was not, going through our collective brains on those hot summer days in late July 2016. Many of you were likely on the beach, and giving little thought to the potential for proposed 2704 regulations to disrupt the second half of 2016 or for the Presidential election to go the way of Donald J. Trump. In early August, the Treasury issued potentially far-reaching proposed regulations under Section 2704 of the Internal Revenue Code, and as Summer turned to Fall, Mr. Trump cut into Hillary Clinton’s projected lead and went on to a resounding electoral college victory.