Determining Reasonable Compensation (Part 2)

By Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA Industry-Specific Databases The specific databases I have subscribed to for several years are surveys of attorneys, physicians, and accountants. Although some accountants may not obtain these surveys due to their cost, I subscribe because each provides a wealth of information that enables me to more accurately…

Determining Reasonable Compensation

By Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA I always inform judges, attorneys and clients that business valuation is not an exact science. Two of those areas that require some subjectivity when valuing a business are the determination of reason- able compensation and the risk associated with the business. The means by which to…

In re Marriage of Dawnel and Frank Bonvino Findings Change Precedence in Real Property Apportionment Calculations (Part 1)

Approximately three years after their marriage, Dawnel and Frank Bonvino purchased a family home in Westlake Village with a down payment from husband’s resources and the proceeds from a loan in his name.  The property was purchased in 1996. Title to the home was taken in Frank’s name as sole and separate property.  Approximately 15…

Why So Many Documents for a Business Valuation (Part 3)?

Documents Needed for Incorporated Businesses There are specific documents concerning corporations that Forensic Accountants frequently request to review in a dissolution matter. Typical ones include articles of incorporation, by-laws, corporate minutes, stock certificate books, stock ownership lists, organograms and job descriptions of key officers. Articles of incorporation: Forensic Accountants want to know when the company…

Why So Many Documents for a Business Valuation (Part 2)?

In the previous issue of Forensic Accounting Today, I consisely clarified the key reasons why Forensic Accountants request certain documents for business valuations. These included financial statements, tax returns, general ledgers and journals, paid bills, bank statements, canceled checks and brokerage statements, income tax audits, and stockholder and director minutes. (If you do not have…

In re Marriage of Dawnel and Frank Bonvino: Part 2 – Findings of the Court of Appeal

Frank Bonvino’s Appeal Frank Bonvino based his appeal of the trial court’s decision on the contention that there was no evidence he transmuted his separate property to community property.  By plain language of this statute, Family Code §2640 applies to separate property contributions that are traceable from a community property asset at dissolution.  Section 2640…