Michelle Gallagher Presents to IRS on the Section 2704 Proposed Regulations

On December 1, 2016, Michelle Gallagher represented the AICPA in presenting testimony at the IRS public hearing in Washington DC related to the proposed regulations under section 2704. Her testimony focused on how the proposed regulations would not follow generally accepted valuation principles as they redefine three primary valuation concepts 1) Fair Market Value, 2) Control, and 3) Marketability.

» Read Michelle's Testimony

Articles on the Hearing Including Quotes from Michelle's Testimony

» Forbes
» AICPA Podcast
» Accounting Today
Michelle Gallagher Presents to the IRS Michelle Gallagher Presents to the IRS

Meet The Gallagher Valuation & Forensics Team

Michelle F. Gallagher CPA/ABV/CFF
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Michelle F. Gallagher, CPA/ABV/CFF owns and operates the valuation and forensic accounting firm of Gallagher Valuation & Forensics, PLC and is a Principal with the accounting firm of Gallagher, Flintoff & Klein, PLC in Lansing, Michigan. She is a certified public accountant (CPA), accredited in business valuation (ABV), certified in financial forensics (CFF), and a candidate member with the American Society of Appraisers. Her extensive years of experience includes professional services in the areas of accounting, tax, business valuation, forensic accounting, litigation support, determination of damages, pension valuation, mediation, divorce consulting, and business advisory services. Ms. Gallagher’s experience includes services as a trusted consultant, expert witness, mediator, and court-appointed expert.

Michelle is Chair of the AICPA ABV Credential Committee and the AICPA ABV Exam Task Force. She has been on the Planning Committee for past AICPA-AAML Family Law Conferences as well as past AICPA Forensic and Valuation Conferences. In 2008, Michelle received the AICPA FLS Volunteer of the Year Award. In addition to her service at the National level, she serves on the Board of Directors for the Michigan Association of Certified Public Accountants (MICPA), is a past-Chair of the MICPA Business Valuation/Litigation Support Task Force, and Co-Chaired the 2006 MICPA Divorce Issues Conference. In 2012, Michelle received the MICPA Women to Watch Award. She has spoken nationally at AICPA, ABA and AAML conferences, as well as regionally and locally to a variety of business and professional groups on various business valuation and litigation related topics.

Michelle holds a Bachelor of Art degree in Accounting from Michigan State University.

Christopher L. Arsenault, CPA, CFE, CGMA

Christopher joined Gallagher, Flintoff and Klein, PLC (GFK) in July 2015 as a Manager. He is a licensed CPA in Michigan, a Certified Fraud Examiner (CFE), and Certified Global Management Accountant (CGMA) and brings with him over fifteen years of experience in public accounting at both a large international firm and a small local firm. His public accounting experience includes professional services in the areas of financial accounting and auditing, tax planning and compliance, internal control consulting, and business advisory services and he will continue to provide many of these services at GFK.

Christopher is also associated with Gallagher Valuation and Forensics, PLC (GVF). GVF provides specialty services in the areas of business valuation and forensic accounting. Services include valuing closely-held businesses for sales, acquisitions, corporate restructuring, gift and estate taxes, divorce, contract disputes, condemnation and shareholder disputes as well as forensic accounting investigations in conjunction with various dispute resolution methods. At GVF he focuses on business valuations, litigation support services, and other forensic accounting engagements.

GFK & GVF possess highly trained and skilled professional staff with the core values of providing superior service and producing a high quality product for its clients with an emphasis on honesty, professionalism and integrity.

Jamie Badger

Jamie Badger

Deborah Roberts

Debbie Roberts


Consulting services and appraisals of closely- held businesses and business interests related to:

  • Asset tracing

  • Damages analysis

  • Analytical and evaluation services

  • Present value computations

  • Assistance with trial and brief exhibits related to financial matters

  • Negotiation and settlement assistance

  • Mediation services

  • Expert witness testimony

  • Gift and estate tax

  • Family LLC’s and LP’s

  • Divorce proceedings

  • Shareholder disputes and redemptions

  • Buy-Sell agreements

  • C to S conversions

  • Acquisitions

  • Management succession


March 2017 - Michelle Gallagher Announces Affiliation with Adamy Valuation

Michelle Gallagher is pleased to announce that Gallagher Valuation & Forensics, PLC (Gallagher) has become a strategic partner of Adamy Valuation (Adamy) for providing business valuation services to clients across Michigan and the United States. Michelle's valuation practice will focus on the areas of family law, litigation, estate planning, and tax reporting and she will lead Adamy's family law practice group. In addition to serving her business valuation clients, she will maintain her role as the managing partner of the CPA firm Gallagher, Flintoff & Klein in Lansing, Michigan. Michelle will continue to serve clients at her office in Lansing, Michigan as well as Adamy's offices in Grand Rapids, Michigan and Chicago, Illinois.

"We have long held a high degree of respect and admiration for Michelle's expertise and professionalism, and, frankly, she is just a lot of fun to work with." - Nick Adamy, Managing Director of Adamy Valuation.

"This is the perfect opportunity to leverage the strength of Adamy's resources to serve my valuation clients and to expand our abilities to serve a broader client base." - Michelle Gallagher, Principal of Gallagher Valuation & Forensics.

Michelle Gallagher is a nationally-recognized expert in business valuation. She has testified as an expert witness on business valuation matters in numerous cases. She is a Certified Public Accountant, Accredited in Business Valuation and Certified in Financial Forensics, and she has been an active leader in the MICPA and AICPA for the valuation profession. Most recently, she testified on behalf of the AICPA at the US Department of Treasury hearing in Washington, DC regarding the proposed Section 2704 regulations addressing discounts on family transfers of ownership interests, which garnered national press coverage.

From its entrepreneurial beginning in 1979, Adamy Valuation has built a compelling track record as a leader in business valuation. Now in its second generation of leadership, Adamy's experts work with companies in a wide variety of industries across the United States.

To learn more about Adamy Valuation visit: www.adamyvaluation.com or contact Michelle directly at:

Michelle F. Gallagher, CPA/ABV/CFF
Direct +1.517.664.9350 | mgallagher@cpaexpert.us
2408 Lake Lansing Road | Lansing, MI 48912

Grand Rapids:
Direct +1.616.284.3714 | mgallagher@adamyvaluation.com
50 Louis St. NW, Ste. 405 | Grand Rapids, MI 49503

November 2016 - Michelle Gallagher to Testify at December 1st IRS Hearing on Proposed 2704 Regulations

As chair of the ABV Credential Committee, Michelle will be one of two AICPA representatives testifying at the upcoming hearing in Washington DC. She also co-authored a recent article on the topic and co-presented at the National forensic and valuation conference regarding the latest developments.

Click here to read her article.

June 2016 - Michelle Gallagher Speaks at National and Local Conferences

Michelle co-presented with attorney and AAML fellow Brian Vertz in May in New Orleans, LA at the National Conference on Divorce hosted by the American Institute of Certified Public Accountants (AICPA) and the American Academy of Matrimonial Lawyers (AAML). The session covered 10 need-to-know new cases related to business valuation, tax issues, and a variety of family law decisions and trends from around the Country.

In June, Michelle presented at the MICPA CPEconomy event in Okemos, MI on the topic of Thorough Business Valuations Made Simple. The session was designed for CPAs wanting to know more about business valuation basics and covered how to conduct business valuations on small, privately-held companies and common issues that arise.

Please email Michelle at mgallagher@cpaexpert.us if you would like to learn more about these topics!


Gallagher Valuation & Forensics, PLC
2408 Lake Lansing Road
Lansing, MI 48912

Ph: (517) 664-9350


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