Covid-19 and the resulting economic fallout is directly impacting the value of virtually all companies, public and private. While the stock market automatically adjusts public company values daily, private company valuations based on outdated forecasts are likely overstated both for issuing stock compensation for employee retention as well as for gifting that impacts tax & estate planning. To optimize compensation and tax strategies going forward, private companies should consider an updated valuation to reflect their new prospects in 2020 and beyond.