On August 2, 2016, the Internal Revenue Service released the anticipated proposed regulations (REG-163113-02) that would, if enacted, result in a massive disruption in gift, estate and generation-skipping tax planning. In short, the proposed regulations would prevent taxpayers from applying most minority interest discounts and lack of marketability discounts (valuation discounts) to the intra-family gifts of family-controlled private entities. These proposed regulations specifically target the gifting of family limited partnership and limited liability company interests as well as minority interests in family-controlled operating businesses.
Alliant Insurance Services, one of the nation’s leading distributors of diversified insurance products and services, acquired a specialty aviation insurance brokerage in Washington. Caliber Advisors provided Alliant a purchase price allocation for the acquired intangible assets in accordance with FASB ASC 805.
D&S Community Services, an intermediate care provider, acquired two intermediate care companies in Texas. Given the size of the acquisition, Caliber Advisors assisted D&S with a simplified purchase price allocation for the two entities. The simplified purchase price allocation provided a strong analytical framework which met the company’s financial reporting requirements in a cost-effective manner.
Caliber Advisors is pleased to announce that Jimmy Mar, Akila Narayanan and Dan Rubin have each been promoted to Vice President. In conjunction with their promotions, all three have been made shareholders in the firm. The three new Vice Presidents have an average tenure of 7 years with Caliber and have been an integral part of the firm’s success.
“Jimmy, Akila and Dan have been instrumental in serving our clients and growing the company over the past several years. Equally important, their personal style, commitment and care as team members makes Caliber an especially great place to work. Because of their contributions to our clients and our organization, I am thrilled to announce that they have become shareholders in Caliber Advisors.” said Ken Nunes, Managing Director of Caliber’s San Diego office.
“Jimmy, Akila, and Dan possess the expertise and deliver the high-quality work Caliber is known for and exemplify the firm’s core values through their professionalism, dedication, and commitment to client service. I congratulate them on their new leadership roles and wish each of them continued success as they take the next step in their careers at the firm.” said Heather Grove, Managing Director of Caliber’s Chicago office.
Jimmy Mar has provided economic and valuation opinions for financial reporting, tax, litigation and board advisory since 2007. Mr. Mar has extensive experience with the appraisal of equity securities and intangible assets for companies domestically and abroad. Mr. Mar is a frequent guest lecturer at the University of California, San Diego on matters of business valuation and is a member of the CFA Society of San Diego.
Mr. Mar is active in his local church and has recently taken up scuba diving. In his private time, he enjoys cooking and playing video games.
Akila Narayanan is a seasoned valuation professional with a wide range of valuation experience for financial reporting and tax purposes. Ms. Narayanan specializes in the valuation of complex securities including privately-held debt, warrants, embedded derivatives and convertible debt. Ms. Narayanan has been engaged with a variety of clients in the valuation of intangible assets, spanning various industries involving both domestic and global acquisitions.
Ms. Narayanan is a member of the Appraisal Issues Task Force (AITF) and the CFA Society of Washington, DC.
Ms. Narayanan is an active member of the community volunteering with school PTAs and youth sports groups. She is an avid traveler with a keen interest in exploring global culture and cuisine.
Dan Rubin provides valuation opinions and financial advisory services to organizations both domestically and globally. Mr. Rubin’s recent experience includes advising on the arm’s length ownership percentage for a foreign joint venture and providing litigation support for the successful defense against an eight-figure lawsuit. Mr. Rubin graduated from the University of California, San Diego with a Bachelors’ of Science in Management Science and enjoys guest lecturing and advising students at his alma mater.
Mr. Rubin is an avid sports fan. Although he has lived in California for nearly two decades, he has Chicago roots and maintains his allegiance to the Bulls, Bears and Cubs.
Caliber Advisors proudly supports the Goodman Theatre’s Playbuild Youth Intensive Program as a Presenting Sponsor of the 2016 Scene Soiree, the proceeds of which benefit the program which offers 14 to 19 year old students from underserved communities the opportunity to learn all elements of theater production from local theater professionals as well as critical thinking, literacy, and storytelling skills that are instantly applicable not only to the world of theater, but also in the world at large.
This year’s event, which will be held on Friday, July 29 at Ovation (2324 W. Fulton St., Chicago), will include a performance by YouTube beatboxing sensation Yuri Lane, music from one of Chicago’s hottest DJs, tasty delectables, signature cocktails, and a silent auction containing exclusive experiences which highlight some of the city’s most unique areas. In addition, one lucky guest will go home with an original painting by Elliot From, who will bring a one-of-a-kind piece to life during the Soiree.
For more information about the Goodman Theatre or the Playbuild Youth Intensive Program, please visit www.goodmantheatre.org.