Estate & Gift Valuations are generally prepared in connection with estate planning or the preparation of estate or gift tax returns. The Internal Revenue Code allows a unified estate and gift tax credit on lifetime transfers of property, and business owners sometimes make use of these credits in preparing for estate tax issues. The value of the closely-held business must be determined because it may be gifted prior to the owner’s death or it may be transferred at death. In either event, the value must be known to do effective planning or prepare a complete, true, and accurate tax return.
© 2020 C. P. Schumann, P.C. No portion of this site may be reproduced or redistributed without the express written permission of the copyright holder. Although the information is believed to be reliable, we do not guarantee its accuracy. Our website is intended for information purposes only and is not intended as financial, investment, legal, accounting, tax, or consulting advice. On January 1, 2013, the company name changed to C. P. Schumann, P.C.