Bruce W Thee has over 30 years of business valuation experience. Initially, while a staff person with McGladrey & Pullen’s in Cedar Rapids, Iowa, working under the supervision of the firm’s National Tax Partner, John Bryant, Bruce began preparing business valuations for estate and gift tax purposes.
After being transferred to McGladrey & Pullens’ Reno office Bruce was engaged to prepare a business valuation and provide expert testimony for a divorce. Since then he has been involved in over 600 business valuation engagements.
Bruce joined Grant Thornton in 1988 as a Tax Manager and the head of the Reno office’s tax department; he was promoted to partner in 1990. He was appointed to Grant Thornton’s Nation Tax Committee in 1991. While he served on the National Tax Committee, Grant Thornton began practicing in the business valuation area, which was supervised by committee. Bruce was appointed as the National Director of Grant Thorton’s Business Valuation Sub-Committee. During his first year in that position, in conjunction with the National Audit Committee and the Legal Department, Bruce and the National Tax Committee developed guidelines on the types of engagements that Grant Thornton would undertake; the quantity, quality, and source of training the Firm would require of partners and staff undertaking business valuation engagements and the engagement documentation that would be required under the Firm’s guidelines.
During Bruce’s first year in that position he attended several business valuation accreditation training courses, in which he examined both the accreditation standards and the training programs. Several years later the American Institute of Certified Public Accountants (AICPA) announced its accreditation and training programs for Business Valuation. Bruce sat for the first Accredited in Business Valuation (ABV) exam and was one of the first successful candidates to pass the exam.
He was awarded his ABV designation in 1996 and since then has devoted a substantial portion of his professional career to providing business valuation services. Over the past 30 years he has provided business valuation services for estate tax, gift tax, Section 83, divorce, purchase, sale, lost profits and other purposes. His clients have ranged from “Mom and Pop” proprietorships to internationally recognized companies like Hilton Hotels. The bulk of these engagements are referrals from law firms and other CPA firms.
Bruce understands his role as an expert witness and an independent valuation expert. He offers his own expert, researched opinion which at times may conflict with a client’s slanted interests. As a matter of professional ethics, Bruce’s opinions are not swayed by his clients’ or their attorneys’ opinions. He is filly prepared and qualified to defend his opinions in any Court and prepares every valuation report so that it can stand on its merits before the United States Tax Court or any other trier of fact. Bruce has extensive experience in expert testimony and enjoys the opportunity of defending his valuation opinions.
Over the years, Bruce has had a number of his business valuations challenged by the Internal Revenue Service. As one would expect, the ultimate value was never as low as Bruce opined, but all cases were settled at substantial discounts with no penalties having ever been assessed under these circumstances to his clients or his firm.
Bruce W Thee & Associates reviewed and evaluated the opinions of any number of nationally recognized valuation firms and we believe that our work product compares favorably to that of any valuation firm in the nation.
Bruce prices his valuation engagements based on the estimated effort required by him and his staff. The minimum fee for any valuation engagement is $5,000. We can also submit a fixed fee engagement contract for any valuation as long as the engagement is adequately described.