From: Richard Kahn • To: "Jeffrey E." <[email protected]> Subject: Valuation Discounts at Risk - July 10, 2015 Date: Mon, 13 Jul 2015 16:11:42 +0000 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 From: Cozen O'Connor Publications Date: Friday, July 10, 2015 at 11:18 AM To: Richard Kahn c Subject: Valuation Discounts at Risk - July 10, 2015 If you are having difficulty viewing this email, please use this link. Vw About Careers Events Diversity Alumni Contact Blogs People Industries Practice Areas Experience Offices News & Resources Valuation Discounts at Risk Yogi Berm used to say, "A nickel ain't worth a dime anymore: But a dime may be worth a nickel ... at least for the time being. Valuing interests in family-controlled entities is a challenging process, and an area where taxpayers and the IRS have wrangled for many years. Valuations are even more challenging for nonvoting or minority interests, and meaningful discounts for the lack of control and lack of marketability inherent in these Vr EFTA00667768