How to avoid tax problems in family business transactions
Article Abstract:
Taxpayers and their advisors should be aware of the possible transfer taxes resulting from family business transactions in light of the Dickman decision. The IRS's new definitions of 'property' and 'transfer' have led to more aggressive pursuit of taxes from generation-skipping trusts and a loss of some deductions. Issues discussed include unproductive property, recapitalization, gifts to shareholders, buy-sell agreements and stock options.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
The estate tax audit: how to prepare and succeed
Article Abstract:
Executors of an estate can take steps to improve the chances for success at an estate tax audit. These steps include becoming knowledgeable about the audit process, substantiating claims properly and preparing the return carefully. The IRS, when determining which returns to audit, examines returns on the basis of overall completeness and frequently questioned exclusions, claims and deductions.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Court of Appeals precludes General Signal from deducting amounts used to pre-fund medical and life insurance benefits
- Abstracts: Courts split on individuals' deficiency interest deduction. Tax court rejects stock aggregation; accepts minority discount
- Abstracts: Below-market loans offer tax arbitrage potential. Hold on to special-use valuation estate tax saviings. Give more and pay less tax by claiming valuation discounts
- Abstracts: Below-market loans offer tax arbitrage potential. Help clients evaluate tax and compliance aspects of franchising
- Abstracts: Precautions can mitigate legal dangers of Web sites; privacy concerns, hyperlink liability and jurisdiction issues should all be contemplated