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Marcum LLP
Advisory

Economic Damages

Three Men Standing
 

Preparing economic damages for personal injury, wrongful death, employment discrimination and wrongful termination cases requires a high-degree of skill, experience and knowledge to gather and interpret the appropriate financial data.

Incomplete, flawed or fraudulent accounting data will invariably result in an erroneous economic loss calculation and negative implications. It is imperative that the data presented is an accurate reflection of the subject entity's operations and financial condition. This data becomes even more important when the type and amount of information provided is restricted for some reason.

Marcum LLP professionals are accountants, auditors, consultants and experts with extensive experience in finance, economics, business management, accounting, taxation, and forensic investigations.

Our professional's vast experience in varied industries; expertise in tax return preparation and providing accounting services; familiarity with historical financial data; and high knowledge of current income tax rules and regulations, well-positions us to:

  • Forecast and project future financial results.
  • Review and evaluate historical financial data, including income history.
  • Evaluate budgets.
  • Document financial results.
  • Perform business valuations.
  • Develop assumptions based on historical performance and economic expectations.
  • Perform forensic investigations.
  • Interview parties involved.
  • Provide risk analysis.
  • Critique reports of economic damages from opposing expert.
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Why Choose Marcum?

As a result of the industry knowledge the forensic accountants at Marcum possess, we are capable of providing comprehensive analyses that look beyond the numbers to explain the realities of economic and business matters.

Marcum has a unique blend of education and experience to successfully apply economic and fiscal reality as well as common logic to the stressful, complicated and sensitive issues that often surround these types of cases. We bring many years of dedicated practical experience, professional resources and specialized credentials to each engagement.

Marcum's litigation support specialists are retained by attorneys, insurance companies, government agencies, corporate general counsel and business owners to provide services in a variety of areas, including consulting with clients and counsel on all phases of litigation from discovery through trial; providing oral and written testimony as opinion, rebuttal, and/or fact witnesses; conducting interviews and fraud investigations as well as serving as independent arbitrators.

Marcum professionals have experience providing valuable insights, analyses and credible testimony in litigation, alternative dispute resolution and investigations in federal and state courts, arbitration and mediation forums. Additionally, we work closely with clients providing administrative support for document management, database creation and preparation of trial exhibits. We use our forensic accounting skills, valuation expertise, financial modeling knowledge and litigation background to provide expert testimony and support counsel in a variety of ways, including the preparation of financial affidavits, income analyses, lifestyle analyses, valuations, asset tracing and discovery assistance. We frequently provide tax advice and financial planning both during and after the resolution of a case.

Economic Damages

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The Forensic Files

A recap of advisory-based issues

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Wages and Other Income

Because of our extensive experience in this area, we are cognizant that the amount of recoverable damages, as opposed to alleged damages, is determinative of the outcome of litigation.

Consequently, Marcum professionals are familiar with causation issues and work closely with counsel to ensure that damages calculations are performed in accordance with applicable rules, regulations and case law in the particular jurisdiction in which the matter is being litigated and provide the necessary expertise when analyzing losses for:

  • Fringe benefits.
  • Household services.
  • Medical costs.
  • Business valuations (self-employed).
  • Loss periods.
  • Work-life expectancy.
  • Growth rates to project future losses.
  • Discount rates to convert future losses to present value.
 
Economic Damages

Economic Damages Brochure

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Contacts

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James Ashe

Partner-in-Charge
Advisory
Melville, NY
 
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