PROPOSED NEW TAX REGULATIONS FOR FAMILY-CONTROLLED BUSINESSES
Jackie Luthringshausen • December 13, 2016
The Treasury Department has proposed new Section 2704 regulations which will severely curtail the use of valuation discounts for transfers of interests in family-controlled businesses. If the proposed regulations go into effect as written, they will have a significant impact on estate planning for owners of family-controlled corporations, partnerships, and limited liability companies. Estate planning attorneys Brian Warens and Jackie Luthringshausen explain these regulations and what you should do to protect yourself and your business.
- valuation discounts
- lack of control discounts
- lack of marketability discounts
- 3-year lookback
- disregarded restrictions
- applicable restrictions
- gifting strategy
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