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The Internal Revenue Service has signaled another attempt to curtail or eliminate the use of valuation discounts for family holding entities (LLC’s, LP’s, and so forth). This one could have legs in the current political environment, in which income inequality is a major issue, carried interest tax preferences are threatened, and stock prices are high, even considering the recent correction.
Clients ought to consider taking advantage of discounted interest transfers while they still can. We have extensive experience in preparing and defending these valuations against audits (having prepared almost 1,000 of them), and can turn high-quality reports around quickly and at reasonable cost. Their potential benefits exceed their risks by considerable margins.
In our experience, the key to successful transfers is to document that they have legitimate business purposes, such as protection against creditors, and to support the discounts with ample and strong data and analytics.
Valuations play a part in all tax, transaction, and litigation matters. For additional information or advice on a current one, please do not hesitate to call.
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About Western Reserve Valuation Services LLC
Western Reserve Valuation Services LLC, based in Columbus, Ohio, is a leading provider of valuation services and financial opinions relating to corporate finance transactions, corporate tax planning and compliance, succession planning and wealth preservation, employee stock ownership plans (“ESOPs”), financial reporting and portfolio / fund valuations. For more information, visit www.wesresvaluation.com or call (614) 448-3700.
Western Reserve Valuation Services is an affiliate of Western Reserve Partners LLC, a FINRA-member investment banking firm offering financial advisory services relating to mergers and acquisitions, capital raising and financial restructuring. For more information on Western Reserve Partners, please visit www.wesrespartners.com or call (216) 589-0900.