Business Owners: Is It Time to Transition Ownership to the Next Generation?
This article discusses the federal tax implications of two popular wealth-transfer options and provides guidance on valuing private business interests for tax purposes.
KWC specializes in providing tax, audit, accounting, business consulting services and client advisory services (including outsourced accounting, virtual CFO services, internal control analysis, accounting systems analysis and design) for businesses, individuals, estates, trusts, non-profit organizations, and employee benefit plans. Our diverse client base served includes industries such as professional service firms, government contractors, non-profits, real estate, construction and specialty contractors, and healthcare providers. KWC is the CPA firm clients trust in Alexandria, Arlington, Fairfax, Tysons Corner, Springfield, Arlington, the Richmond Metropolitan Area, Northern Virginia, Washington, D.C. and Maryland.
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Business Owners: Is It Time to Transition Ownership to the Next Generation?
One of the upsides to owning a small business is the chance to provide a financial legacy for your family members to participate in after you exit the business. However, there are federal tax implications to transferring ownership to your loved ones. Whether you're...