Posted in The Bottom Line, Featured Post, Estate Planning, Featured Content

Sec. 6166: Estate tax relief for family businesses

Fewer people currently are subject to transfer taxes than ever before. But gift, estate and generation-skipping transfer (GST) taxes continue to place a burden on families with significant amounts of wealth tied up in illiquid closely held businesses. Fortunately, Internal Revenue Code Section 6166 provides some relief, allowing the estates of family business owners to…

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Posted in The Bottom Line, Featured Post, Estate Planning

One way to transfer a family business

For many people, a family-owned business is their primary source of wealth, so it’s critical to plan carefully for the transition of ownership from one generation to the next, and one of the biggest consideration is tax. The best approach depends on your particular circumstances. If your net worth is well within the estate tax…

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Posted in The Bottom Line, Featured Post, Estate Planning

A Win for Family Businesses

by: Charles Friedman, Director   In 2016 it looked like a new proposed regulation might greatly limit a popular estate planning technique – leading to a big increase in the estate taxes of family business owners. Thankfully, late last month the IRS formally withdrew the proposal, allowing estate planners and their clients to breathe a…

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