The 2017 Tax Cuts and Jobs Act raised the amount that can be sheltered from federal estate tax in 2019 to $11.4 million for an individual and double that amount, or $22.8 million, for a married couple. ...more
Even if Congress fails this autumn to overhaul the Internal Revenue Code and, conceivably, repeal the federal “death” or estate tax, 2018 can be expected to bring relief in the form of taxpayer-friendly inflation adjustments....more
The new administration in Washington, supported by Republican majorities in Congress, has pledged substantial changes to federal tax laws and regulations. One change may - or may not - be the complete elimination of federal...more
The ability to use transfer and liquidation restrictions in legal documents to reduce the value of an interest in a family-controlled (or “closely-held”) business entity (e.g., partnership, corporation, limited liability...more
8/30/2016
/ Business Succession ,
Business Valuations ,
Closely Held Businesses ,
Comment Period ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Family Limited Partnerships ,
Gift Tax ,
IRC Section 2704 ,
IRS ,
Limited Liability Company (LLC) ,
Partnerships ,
Proposed Regulation ,
Succession Planning ,
Transfer of Assets ,
Transfer Taxes ,
U.S. Treasury
The American Taxpayer Relief Act of 2012 (the "2012 Act") — actually passed by Congress on January 1, 2013 — brings welcome stability to federal estate, gift and generation-skipping transfer tax law which has been in...more