We provide valuation solutions.         


In the valuation space, we offer:

  • consultations/appraisal review - identify appraisal strengths/weaknesses, minimize potential IRS audit red flags

  • professional appraisal reports - solid, defensible, accurate 

  • royalty and license compliance audits - identify underreported royalty income

  • expert witness testimony


Valuation Purpose

  • tax

  • buy/sell, mergers and acquisition

  • bankruptcy/liquidation

  • divorce


Types of Assets Valued

  • intellectual property (music/film copyrights, trademarks, name & likeness rights)

  • business (operating/passive entities, partial interest discounts)

  • commercial/residential real property (fractional interest discounts)

Why us?  We have the credentials and experience.

Michael A. Perlmutter

I know how to identify IRS audit red flags and how to avoid them. I have ​27 years Internal Revenue Service experience as an Estate Tax Attorney and Revenue Agent, hold active California attorney and CPA licenses, as well as certifications as a certified valuation analyst and business appraisal reviewer.  At the IRS, I reviewed thousands of valuation appraisals for audit selection and audited some of the wealthiest and highest profile taxpayers. I assisted in sending some of the most significant cases to IRS Appeals and even to Tax Court.  My background and focus is on intellectual property valuation, business valuation and partial interest discount issues. 

Wayne C. Coleman and Darla Y. Crain

We each have decades of business and valuation knowledge and experience working most types of valuation appraisal assignments, and with some of the most prominent A-List names in the Entertainment industry.  We also specialize in royalty compliance audit work.  See our lengthy resume of past and current valuation and royalty license related engagements under the "CLIENT BASE" tab above.  


The Team

Together, we create a unique and powerful team that combines IRS inside knowledge with private practice valuation industry experience. This gives us a distinct advantage in preparing solid, credible and defensible valuation appraisals, in providing consulting advice and expert witness testimony and in reviewing appraisal reports for potentially costly valuation issues. 

We have offices in Los Angeles and St. Louis.

Valuation Appraisal Reports

Solid, credible, defensible professional valuation reports for assets including intellectual property (music/film copyrights and name & likeness rights), business interests (partial interest discount report) and real property (fractional interest discounts).   


Valuation and tax-related advice, including the review of appraisals for errors, omissions and inconsistencies, the evaluation of appraisals for IRS audit potential and financial exposure and providing assistance in the valuation process, especially as to how the IRS may present the issues as well as how to prepare an appraisal that would decrease the chance of an IRS audit.  We look for incidents of over-valuation and under-valuation and the strengths and weaknesses of the subject appraisals. 

Expert Witness Testimony

All valuation and tax-related topics, which includes theory and methodologies applied, assumptions used, calculations made, adequacy of the analysis and supporting documentation, appropriateness of discounts and the reasonableness of the concluded values.

"At the IRS, I reviewed thousands of valuation appraisals and found many of them poorly done, containing errors, omissions and inconsistencies.  I  know how to produce solid, credible and defensible appraisals."
"We have created a unique opportunity by partnering my extensive IRS experience with seasoned private practice business and valuation industry specialists, resulting in a rarely matched valuation perspective."

Michael A. Perlmutter