Much has been written and spoken about agency valuations. In all the discussion, though, a few subtle points- critical to protecting an owner's investment in his or her agency-often are overlooked.
Who will read the valuation report? Unless otherwise stipulated, a valuation report should always be written for two audiences: 1) the client, and 2) attorneys and/or the IRS.
Some appraisers write only for their clients, producing reports that are inexpensive, short and easy to read. However, if an agency's value is ever contested by a spouse, a partner or the IRS, such a report can cause more harm than good because it will not hold up to scrutiny.
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