The Tax Court has partially upheld the discounts applied in the valuation of two closely held companies for estate tax purposes. In the case, when the decedent died she held a 43% interest and 23% interest in two closely held…
The Tax Court has partially upheld the discounts applied in the valuation of two closely held companies for estate tax purposes. In the case, when the decedent died she held a 43% interest and 23% interest in two closely held…
Q: Does a down economy affect business succession planning? A: For the most part, it can be advantageous to start a succession plan during a down economy or even sell a business interest to a succeeding generation. During recessions, business…
Selling a business is something that most business owners will only attempt once in their career. With an estimated 70% – 90% of their total net worth tied up in their business, they can’t afford to make a costly mistake,…
Introduction If you’ve paid any attention at all to the news recently, you are well aware of the country’s current credit crises. The gross liquidity that was available just a few short years ago, to nearly any borrower is now…
The Ninth Circuit Court of Appeals upheld a taxpayer’s criminal liability for payroll taxes, holding that the government did not have to prove that the taxpayer had the ability to pay such taxes. The taxpayer in this case managed nursing…
Q: My wife and I run a business together, how must we file our taxes? A: If only one spouse owns the business and the other works as an employee, then you may file as a sole proprietorship under Schedule…
Selling a business is something that most business owners will only attempt once in their career. With an estimated 70% – 90% of their total net worth tied up in their business, they can’t afford to make a costly mistake,…
Introduction Lately, the stock markets have been battered by news of recession, low earnings, unemployment numbers, negative leading indicators, and other bad economic news. This has lead to substantial capital losses for most investors across the investment spectrum. Those holding…
The Tax Court held that the value of a decedent’s interest in a closely-held corporation was properly calculated by using discounts to reflect lack of control, marketability, and built in capital gains. The decedent owned a very small minority interest…
Q: What is new concerning the tax laws in 2009? A: While a blanket statement cannot be made, there are some notable changes for business owners and individuals: 1) The gift exemption amount raises from $12,000 per year, per person…
