Thoughts and Insights by Michael Gregory

Valuation

October 22nd, 2021

How do you make uncomfortable situations comfortable?

We all must deal with people and stressful situations at work, home, and life.

Older gentleman holding a picture of himself, son, and granchilc
July 14th, 2021

Addressing family strife with the transfer of the family business

As a qualified mediator that focuses on business valuation issues, I have been brought in many times to assist with conflicts associated with business valuation and family succession issues, when things do not necessarily go as planned. This article focuses on common problems and ways in which a qualified neutral familiar with business valuation can help the parties through this emotional and stressful time. Various parties offer expertise to assist with the process, but in the end a qualified neutral familiar with this process, valuation, and mediation can help resolve painful issues timely with far less emotional and physical resources expended.

The word "We" over the word "Me"
January 2nd, 2021

Want to increase productivity and growth in 2021? Collaborate even better with others.

Exploring ideas from 2020 blogs from mikegreg.com on collaboration, there are 31 blogs that cover various elements of collaboration. To start 2021 off right for you I have organized these into various categories that will help you to be more productive and enhance growth by being more collaborative with others. 

Man in suit pointing at clear screen where the button he is pointing at says audit
August 7th, 2020

Begin an Audit with the IRS with Collaboration

When you think of collaboration quite likely the IRS does not come to mind. Rather when you hear the term IRS you are not thinking of working together. Instead the thought of an IRS audit likely brings forth thoughts of anxiety, I don’t have time for this, why me and now what? With that in mind I thought explaining some basic tips after receiving an audit letter from the IRS may help. Especially as these tips relate to The Collaboration Effect. After all the IRS are people too.

IRS symbol with IRS - blue background and white symbol and lettering
August 3rd, 2020

IRS, Business Valuers, Adjustments and Preventative Approaches

On July 1, 2020 it was my pleasure to be interviewed by Melissa Gragg, CVA, MAFF, CDFA and Managing Partner at Bridge Valuation Partners, LLC. This 84 minute podcast is packed many ideas of how to avoid and what to do if audited by the IRS on an estate or gift tax return. For business valuers this commentary focuses on the most common adjustments by IRS Business Valuers and what you might want to consider to both avoid an audit and what to do if audited. What does this have to do with The Collaboration Effect® you may ask. Read on. Clearly not everything in that podcast can be presented here, but some of the key highlights can be. The purpose of this commentary is to focus on one of the questions from that podcast. That is: What are the most common adjustments by IRS Business Valuers.

June 1st, 2020

Here is what you can learn from a COVID-19 doctor applied to BV negotiations with the IRS and other parties

Recently an emergency room doctor, Dr. Lorna M. Breen, working continuous 12 hour shifts in NYC committed suicide. This was very sad and points out the tremendous cost this is having on our medical and first responders. The Greater Good Science Center at the U of California at Berkeley responded with a neuroscience article on How Can Doctors Stop Burnout in a Pandemic? In the commentary that follows I take that article and apply the lessons learned here to communication in a hard negotiation. We can all learn from this tragedy. In the end taking time to build connections, listen actively, and educate judiciously are needed in business valuation too.

golf clubs set up at the practice range
August 19th, 2019

What questions should you ask when preparing for a valuation discussion with the IRS?

This article addresses how to prepare and what questions to ask when involved in a facilitation, negotiation or mediation with another party. The focus here is on a business valuation issue with the IRS.  Preparation is key. Conducting a mock interaction ahead of time can be extremely valuable. 

A hot tub
April 1st, 2019

Hot Tubing with the IRS in U.S. Tax Court on Valuation Cases

Over the last few years the U.S. Tax Court has been experimenting with “hot tubbing” experts [concurrent witness testimony] on cases so that the U.S. Tax Court Judge can informally sit with the experts and ask questions. The commentary that follows considers an application of The Collaboration Effect TM to this situation.

Subscribe to Blog