Opinion: Revenue Ruling 59-60 focuses too much on macropicture

01/10/2013 | BVWireNews.com

A valuation principal takes issue with one element of Revenue Ruling 59-60: the requirement that an analysis of "the economic outlook in general and the condition and outlook of the specific industry in particular" be considered when valuing the stock of a closely held company. "[D]oes my analysis of macro-economic conditions really add anything to the credibility of my opinion of value for the stock of a privately owned company doing business here in northern [Illinois]?" he writes. Microeconomic issues are of most concern for clients, he notes.

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