Some items needed to properly consider preparation of a valuation:

1. Purpose for the valuation (gift or estate tax filing, estate planning, buy/sell agreement, discussions of possible sale to managers or external parties, review of possible acquisition, marital settlement, etc.)
2. Block of ownership interest to value (100%, majority interest, less than 50% minority interest, etc.).
3. Date that valuation is to be made effective.
4. A copy of the stock buy/sell agreement, partnership agreement, operating agreement, and other documents that may include restrictions on transferability of the subject ownership interest.
5. Federal income tax returns for last five fiscal year ends relating to the business.
6. Last five years’ fiscal year end financial statements.
7. Latest interim financial statements - income statement and balance sheet.
8. Comments on any non-recurring income or expense transactions in the past five years, such as unusual asset sales, discontinued operations, lawsuit losses, etc.v
9. Comments on and amounts of any company expenses that would not be spent under different ownership, such as officers’ and family compensation, club dues, vehicle expenses, contributions.
10. Any information on business plans - sales, income and cash flow projections, budgets, backlog, strategic plans, market plans, discussion of future of your customers, products, and industry, etc.
11. Third-party appraisals or company management's best estimates of the value of investments, real estate, vehicles, equipment and other assets held by the Company.
12. General description of any category of assets and debts on the balance sheet at the time of the valuation that may have a different fair market value than the reported balance sheet values, such as the relative value of equipment and real estate to their net book values, intangible values not reported, unrecorded obligations, uncollectible accounts, related party receivables that may not be repaid, etc.
13. Comments on the ownership structure and classes of the company, ownership structure of any related companies, any material transactions with related companies, level of competition for the company’s services, depth of management of the company, outlook for the company’s business in the local or regional economy, outlook for the company’s industry, any other useful information about the next year's or two's business conditions that would effect the company's performance.
14. Current ownership names and percentages; details of any changes in ownership in the business within the last five years.