The Treasury has followed through on its promise to issue proposed regulations that are intended to significantly reduce the lack of control and lack of marketability discounts applied by appraisers when valuing family-controlled entities. The proposed regulations follow closely with guidance provided in the Treasury Department’s “Greenbook” as discussed in…
If you are, or someone that you know is, considering transferring an ownership interest in a family-controlled entity the best time may be now. Speculation abounds over the impact that potential new regulations may have on the valuation of a closely held business interest. For several years, the Treasury Department’s…
While each of us is feeling the impacts of an economic slowdown in different ways, for shareholders of a C corporation, this could be a great time to participate in tax planning for the future. In general, many assets that may be held by C corporations, such as real property…
The American Jobs Creation Act of 2004 added section 409A to the Internal Revenue Code (the “Code”) to address abuses in the use of nonqualified deferred compensation plans revealed by the Enron hearings and the Joint Committee on Taxation’s concerns that many nonqualified deferred compensation plans “allowed improper deferral of…