Steve Gorin’s Business Succession Solutions (2nd Qtr 2020): Pass Throughs Held by Trusts; Formula Transfers; Business Gifts When Selling A Business

Steve Gorin, of Thompson Coburn, has issued his 2nd quarter business succession update, which include the following:

Pass-Through Entities Held by Trusts
This article provides a guide for a trust holding or selling an entity taxed as a partnership or S corporation (a “pass-through entity”). For details, including selected 2020 developments, READ MORE 

Formula Transfers for Estate Planning
When transferring a business or other difficult-to-value asset, valuation is uncertain, so we use formula transfers to try to achieve our clients’ goals. For ways to plan transactions and two 2020 Tax Court cases that explain what not to do, READ MORE 

Business Gifts When Selling a Business
When selling a business, its owners often like to share some of the benefits with key employees. Is that a gift, or is it compensation? A 2020 Tax Court case rejected a recipient’s claim of receiving a nontaxable gift. For details, READ MORE

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.

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