Greetings. Here are your Articles for August 2020
Key Concepts in an Economic Damage Calculation
Authored by,
Sobel EAC Valuations

During 25 years of performing valuation work, I have been asked numerous times to perform an economic damages calculation or provide a rebuttal report of economic damages. If a person is performing an economic damages calculation, it is imperative that he or she be very familiar with several key concepts of economic damages, and the criteria that must be included and met in order for a claim of economic damages. While financial and valuation experts are not lawyers, the calculation of economic damages is not just a mathematical exercise. Addressing key concepts such as causation, foreseeability, reasonable certainty, evidence and support, and more are critical to developing a strong, supportable expert opinion. In this blog I explain several critical concepts and apply them to an economic damage claim I worked on several years ago.
2020 Business Valuation Seminar - September 10, 2020
Please join our hosts, Frank Merenda of Sobel EAC Valuations and the Philadelphia ASA Chapter 35, for the 15th annual Business Valuation Conference via Zoom on Thursday, September 10, 2020 from 8:15 am-4:45 pm. There are topics of interest for many professional service providers, including Robert Reilly’s keynote on tax-effecting “S” Corporations (Estate of Jones v Commissioner), Healthcare, Cyber-Currency, Fair Value, and Practice Management. SobelCo's Rebecca Fitzhugh will be presenting on the topic of Cyber-Security. Information and registration at
Appraisers, Not Advocates
Authored by
PA Certified General Appraiser
Sobel EAC Valuations

When appraising property (real estate, personal property) or the equity value of a business, there will likely be discussions, and possibly disagreements, on the concluded opinion of value. The client may hope for a low value if they are using the appraisal for a tax appeal or estate planning/administration, or they may want a high value if they are trying to borrow money or sell a property or business. Many clients believe when they have hired an appraiser, they have hired an advocate. This is incorrect. While attorneys and property tax consultants advocate for their clients, appraisers advocate for their appraisals. The Uniform Standards of Professional Appraisal Practice (“USPAP”), the generally recognized ethical and performance standards for the appraisal profession in the United States, defines an Appraiser as “one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective.”[1]