News & Analysis as of September 21, 2024

Gift Tax

+ Follow

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Disclaiming to Save Taxes

Rivkin Radler LLP on 11/6/2023

It’s not enough for the founder of a closely held business to have successfully established the business. The business has to grow, not only to increase profits, but also to make it more competitive and to diversify its...more

Estate Planning Pitfall: You Sell Real Estate for $1

Adler Pollock & Sheehan P.C. on 11/15/2022

Someone may have told you a story along these lines: Years ago, my grandfather bought land along the shore in (fill in a desirable resort area) for $1,000. He built a vacation home on the property for $50,000 and his family...more

Gifting Business Interests Before Selling the Business? Think Valuation

Rivkin Radler LLP on 1/12/2022

Counting the Days?- We are 302 days away from the national mid-term elections, to be held November 8, 2022, yet the first full week of the new year has already highlighted some of the economic issues with which the...more

Insight on Estate Planning - February/March 2019: Basis consistency rules come into play when inheriting property

Adler Pollock & Sheehan P.C. on 2/5/2019

If a person is in line to inherit property from a parent or other loved one, it’s critical to understand the basis consistency rules. Tax law provides that the income tax basis of property received from a deceased person...more

Insight on Estate Planning - February/March 2019

Adler Pollock & Sheehan P.C. on 2/2/2019

In This Issue: - Time passages: Estate planning through the years - Basis consistency rules come into play when inheriting property - Estate tax laws continue to change; so should your plan - ESTATE PLANNING...more

Transfers of Family-Controlled Business Entities to Family Members Could Get More Expensive

Greenberg Glusker LLP on 9/6/2016

Transfers of Family-Controlled Business Entities to Family Members Could Get More Expensive - The Internal Revenue Service (IRS) recently released proposed regulations that will dramatically change the valuation of...more

Proposed IRS regulations will limit valuation discounts for family-held entities

McAfee & Taft on 8/22/2016

On August 2, 2016, the Internal Revenue Service (IRS) released proposed regulations that, when finalized, will affect clients holding and transferring interests in family-controlled entities. Family limited partnerships...more

IRS Plans to Disallow Minority Interest Discounts for Family-Controlled Entities; Action May Be Required Before Year-End

K&L Gates LLP on 8/15/2016

Gifts and bequests of interests in family-owned companies have traditionally been valued at their fair market values for purposes of calculating the gift or estate tax on the transfer. In valuing these transfers, there is...more

Higher Taxes Projected for Transfer of Minority Interests in Hard to Value Assets

Hinshaw & Culbertson LLP on 8/11/2016

On August 2nd the U.S. Department of the Treasury announced proposed regulations to limit or possibly eliminate a strategy long utilized to reduce the fair market value of certain assets transferred during life or at death to...more

Personal Planning Strategies - July 2015

Proskauer Rose LLP on 7/22/2015

Income Tax Considerations of Estate Planning Are More Important Than Ever - Gifting assets during life will reduce the size of your taxable estate at death and, correspondingly, reduce your estate tax liability. But with...more

10 Results

View per page

Page: of 1

Estate Planning › Fair Market Value › Gift Tax

"My best business intelligence, in one easy email…"