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Business Ownership Gift Tax Business Plans

Blank Rome LLP

Estate Planning for the Business Owner Series, Part 2: Valuing the Business

Blank Rome LLP on

The value of an asset at the time of a transfer is the key component to the United States’ transfer tax system. Gratuitous transfers during lifetime are considered gifts, while transfers as a result of the death of the owner...more

Ward and Smith, P.A.

Closely Held Businesses: You Make the Plan, or a Plan Will Be Made For You

Ward and Smith, P.A. on

Who is the Better Planner for Your Affairs: You or the State? Planning for succession of a closely held business is a lot like making a will. An individual has the opportunity to make a will which directs how the...more

Lewitt Hackman

Game Changer? Succession Planning Targeted by IRS

Lewitt Hackman on

The Department of the Treasury wants to place limitations on valuation discounts that are currently commonly used to reduce asset values in family-owned and closely-held businesses, in an effort to increase tax revenue. The...more

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