Financial Analysis for Litigation Support – Edelstein & Company, LLP

Valuation Update: Massachusetts released Technical Information Release (TIR) 23-1: Tax Provisions in the Fiscal Year 2023 Budget, Including Massachusetts Personal Income Tax Code Update

Edelstein — Thu, 16 Feb 2023 17:30:11 +0000

Effective January 1, 2022, Massachusetts Income Tax Rules comply with the Federal Internal Revenue Code (“IRC”) amended as of January 1, 2022. This means that as of January 1, 2022, Massachusetts conforms with the current federal tax regulations relating to alimony payments. The full release can be found here.

As a reminder under the TCJA and current IRC, effective for any divorce or separation instrument executed after December 31, 2018 alimony payments will no longer be deductible by the payor and alimony will be non-taxable to a recipient. However, modifications to divorce instruments executed prior to December 31, 2018, may remain deductible and includible.

Interesting fact: In general, a Massachusetts taxable gross income is defined under the Federal Internal Revenue Code as amended as of a specific date and in effect for the taxable year. Prior to this year and adopting the Internal Revenue Code amended January 1, 2022, The Massachusetts personal income tax previously followed the Internal Revenue Code as amended on January 1, 2005. This is why in the past in Massachusetts alimony remained deductible to payors and includable to recipients.

Marc Bello Included in Faculty for Upcoming MCLE Program

Edelstein — Tue, 11 Oct 2022 14:10:21 +0000

On Friday, October 14, 2022, Marc Bello, Business Valuation & Forensic Accounting Partner, will be included in the faculty on the Massachusetts Continuing Legal Education’s program, ‘Game-Changing Impact of Cavanagh on Determining Child Support & Alimony’. The agenda includes:

How Will Negotiated Settlements in Complex Divorce Cases Be Impacted by the Mandated Three-Step Analysis for Determining Whether to Award Child Support or Alimony?
How Will Family Law Judges Assess the Various Financial Issues Necessitated by the Court’s Ruling?
What Is the Full Scope of the Contract Exception Permitting Spouses to Testify on Private Statements Concerning Potential Financial Obligations in the Context of Child Support and Alimony?
Will Waivers of Alimony in Separation Agreements Survive Going Forward?

Edelstein Sponsored 5th Annual CLE by the Sea

Edelstein — Thu, 28 Jul 2022 14:18:54 +0000

On Wednesday, July 13, 2022, Edelstein was proud to sponsor the fifth annual CLE by the Sea for Solos and Small Law Firms. The conference was put on by the Greater Newburyport Bar Association with The Maine State Bar, The New Hampshire Bar, The Massachusetts Bar Association, The Mass. Academy of Trial Attorneys, The WBA of MA, Starting Out Solo, and Essex County Bar Association and LCL/LOMAP. Business Valuation & Forensic Accounting Partner, Marc Bello, presented at the conference along side Donald Pitman of Pitman Law Office.

Topics that were covered in Marc’s presentation included:

Non-qualified compensation plans, e.g. Stock Options
Restricted Stock
Performance Shares
Appreciation Rights

Edelstein provides Financial Analysis for Litigation Support services for attorneys representing clients involved in divorce, shareholder disputes, fraud, personal injury and other types of litigation rely on our experts to provide expert technical assistance to successfully defend or bring action on behalf of their clients. Our experts perform in a variety of roles, including:

Consultant advising on the financial facts of the case and on litigation strategy
Expert witness to render an opinion at trial
Mediator to assist in reaching a negotiated settlement
Arbiter to render a decision after hearing arguments from parties to a dispute
Special master or representative of the court in a special transaction

Marc Bello & Jesse Gillett to be Faculty at MCLE Program

Edelstein — Thu, 23 Jun 2022 15:08:08 +0000

On Tuesday, June 28, Business Valuation & Forensic Accounting Partners, Marc Bello and Jesse Gillett, will be the faculty for the MCLE program, ‘Business Valuation for Attorneys’. Business valuations can assist attorneys with gift and estate planning, mergers and acquisitions, civil litigation, and family law practice. These valuations are valuable for attorneys because they can advise clients in each of these areas and they need core fluency in valuation to provide sound counsel.

The agenda for this program include:

Understanding the Engagement Including Standard of Value and Valuation Date,
Financial Analysis and Fact Gathering,
Valuation Approaches,
Importance of the Valuation Date, and
Tips to Critique a Business Valuation.

Marc Bello to Present at Upcoming MCLE Event

Edelstein — Thu, 03 Feb 2022 16:11:32 +0000

On Wednesday February 9, 2022, Marc Bello, Business Valuation & Forensic Accounting Partner, will be a speaker at the MCLE’s 60 Minute Lawyer Program, Locating People, Property & Assets. The program is aimed to educate attendees on what to do if you can’t find a party involved in a case, the party’s assets, or you suspect assets are being hidden. A few of the topics that will be covered, are:

When and How to Seek the Assistance of a Private Investigator, Forensic Accountant or Computer Forensics Expert,
How You as Counsel Can Help the Private Investigator, Forensic Accountant or Computer Forensic Expert Help You, and
How to Identify When Bank Accounts or Investment Accounts May Be Missing.

There will be two other speakers joining Marc:

Michael Bates, Digital Forensics Examiner and Investigator at Byte Smart Forensics
Martin B. Kraft, Kraft Investigations Group, LLC (KIG)