Estate Tax

/Estate Tax

Treasury Hits Family Businesses!

The verdict is in, and Treasury’s proposed rules on estate tax valuations of family-owned businesses are broad – very broad indeed. They are, simply put, a direct assault on America’s family-owned businesses. Here’s the take of WealthManagement.Com: Although the details are significant, the bottom line is that the proposed regulations would appear to eliminate almost all minority (lack of control) discounts for closely held entity interests, including active businesses owned by a family. To accomplish that, restrictions under the governing documents and even those under state law would be disregarded for valuation purposes. And Steve Leimberg's Estate Planning Email Newsletter: ...

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Treasury Hits Family Businesses!2019-02-01T19:56:24+00:00

Tax Policy on the Table for September

Members of Congress are back home and set to return mid-September for a final three week session before the November elections. Add in two or three weeks of possible "lame duck" session, and that's the extent of time available to tax writers to address the numerous items on their honey-do list: Preventing the 2011 tax hikes (including AMT); Adopting the small business tax bill; Extending the extenders that expired last year; Extending the extenders that will expire this year; and Something on the estate tax. Given that these issues have been before Congress the entire year, it's difficult to conceive ...

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Tax Policy on the Table for September2019-02-04T15:47:04+00:00