In the Oct. 19th issue, the Biz Times features a valuation article by Steve Rozansky. It highlights the importance of valuation for business owners and people with property divisible during distribution of an estate.

Determining the worth of a business is critical to establishing fair market value of estates for gift tax or succession planning, buying and selling of businesses, family law property division, and to support various forms of litigation.

In most cases, the process begins with an in-depth exchange of information often facilitated by a comprehensive questionnaire and in person interviews. The amount of research and calculations that goes into valuations is most often driven by the desired outcome. In many cases an extensive report detailing all of the supporting research, background material, risk factors, industry comparisons and assumptions that were used to come to the value conclusion is required. In other cases, such as a business owner wanting to have an idea of what their business is worth, a shorter, more focused report can be requested.

The outcome of the valuation process is an understanding of the factors that determine worth and a qualified opinion upon which to base critical financial decisions.

Steve Rozansky has earned the Accredited in Business Valuation (ABV) credential from the American Institute of Certified Public Accountants and has provided numerous valuations for over 10 years. For more information, Steve may be reached at Mitz & Rozansky, SC, (414)352-3200 or visit www.mrsc.com.