#34: Your Business: How the IRS Values a Family Business for Heirs, Successors, Gifts, and Estate Taxes

Objective: To help you establish a value for a business and document that value to hold up against any future challenges from your family, heirs, successors, or the IRS.

This Resource Report is a must read for all individuals who own part or all of a business and for the professionals who advise them.

Applies to: Minority ownership positions, divorce settlements, estate and gift tax planning, options to acquire ownership, and buy-sell agreements.

Let's start with the scare tactic approach: You will not be around when the IRS reviews and questions the value of a business left in your estate, or ownership gifts willed to your family, or a buy-sell agreement with a partner or other owners that takes effect at your death or disability.

And you also won't be around to defend the discount you took on the business' value or the dollar value you placed or didn't place on goodwill and other intangible assets. So become familiar with IRS guidelines on valuing a business so you can prepare now to substantiate and document the factors you relied upon in coming up with your dollar value for the business.

This Resource Report includes the IRS' 12 criteria for valuing a business, a review of the 8 ways to value a business, and the steps to adjusting a company's financial statements...using discounts to lower the value, factoring in goodwill, and preparing a final, weighted value for the business. A case study helps you put it all together.

Price: $39.00   |   Pages: 24