Business Valuation for Estate Planning: An $80 Billion Update
Proposed tax changes could significantly affect estate planning for FLPs, LLCs, and privately held businesses. Learn about these changes and other updates affecting estate tax valuation.
Format
Webcast
NASBA Field of Study
Specialized Knowledge
Level
Overview
CPE Credits
1.5
Instructor
Atticus Frank, Andy Frew
Availability
3 months
Product Number
WC4359283
Estate tax valuation update
The IRS has $80 billion in new funding -- a more than 50% increase from prior levels -- and most is aimed at beefing up enforcement.
Audit rates have declined over the last several decades, but the risk of audit and review is increasing, and higher-income taxpayers expect to see the largest increase in scrutiny.
Additionally, the Treasury Department released its fiscal 2024 Greenbook in March, and three of its proposals could significantly affect businesses. Those proposals concern:
-The valuation of promissory notes
-Partial/fractional interests
-Trust assets
This session will aim to update your knowledge of important topics related to business valuation in an estate planning context.
The discussion will also touch on the impact of: -The Tax Cuts and Jobs Act -Recent court decisions -Real-world complex estate and gift tax valuation issues
Key Topics
- Revision of rules for valuation of certain property
- Valuation of promissory notes, partial/fractional interests, and trust assets
- Court cases, other legislative risks, and general observations
Learning Outcomes
- Identify proposed legislation that may affect business valuation in an estate planning context.
- Recognize observations from recent court decisions involving business valuation.
- Distinguish observations from recent engagements in business valuation.
Who Will Benefit
Business valuation advisors and CPAs
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2 to 5 registrants
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