Understanding the distinction between personal and enterprise goodwill is crucial in divorce-related business valuations. The South Carolina Supreme Court’s ruling in Bostick v. Bostick (Opinion No. 28226, July 31, 2024) provides a valuable case study on how courts assess goodwill in the context of equitable distribution.

In the complex world of business valuation, legal cases often provide critical insights into how courts interpret key valuation principles. One such case, Clampitt v. Clampitt (2023 S.C. App. Unpub. LEXIS 381), highlights important nuances in enterprise vs. personal goodwill and the treatment of post-filing business changes in equitable distribution.

The IRS is proposing new amendments to Circular 230 that could change the landscape for appraisers and valuation professionals involved in IRS proceedings. While the goal is to promote standardization and accountability, the changes bring both potential benefits and challenges. Here’s a breakdown of the key points: