The Tax Cuts and Jobs Act (the “Act”) was signed into law on December 20, 2017, with an effective date of January 1, 2018. The Act doubled the exemption amounts for taxpayers for estate, gift, and generation skipping transfer...more
Deducting Miscellaneous Itemized Deductions -
You can elect each year to itemize deductions rather than claim the standard deduction. Itemized deductions are those that you claim on Schedule A of Form 1040, Itemized...more
The transition of a family owned or closely-held business is an important event for families. In a prior article, we covered the issues that a business owner faces in general in preparing a succession plan. This article will...more
The transition of a family owned or closely-held business is a significant undertaking even with the best laid plan. This article will outline the issues that should be considered by the business owner in transitioning a...more
The transition of a family owned or closely-held business involves a variety of legal and tax issues. This goals of this process, however, should be focused on issues that are just as important – if not more important – than...more
One of the most important factors to consider in any business succession plan is the timing of the transition of ownership. Whether a sale or a gift (or combination of the two), no transition should occur before the next...more
9/30/2015
/ Business Valuations ,
Equity Transactions ,
Family Businesses ,
Grantor Retained Annuity Trusts (GRATs) ,
Income Taxes ,
Installment Agreements ,
Interest Rates ,
Internal Revenue Code (IRC) ,
Leveraged Lending ,
Succession Planning ,
U.S. Treasury
The transition of a family owned business involves a variety of legal and tax issues. While most business owners plan to avoid taxes and develop creditor protection strategies, business owners also should be focused on...more
INTRODUCTION -
The transition of a family owned or closely-held business is an important event for estate planning clients. Historically, the use of trusts has played an important role in business succession planning....more
Introduction -
The transition of a family owned or closely-held business is an important event for families. In a prior article, we covered the issues that a business owner faces in general in preparing a succession...more