FSP Article 2011 Sept

Large Gift Tax Exemption Opens the Window for Gifts of Business Interests

The Tax Act of 2010 introduced a $5 million exemption for federal estate and gift tax purposes that will be in effect for gifts and estates through the end of 2012. This provision may be the most dramatic development that emerged from the 2010 law. While it necessarily has a host of possible planning applications, it offers a clear opportunity for the owners of closely held businesses to accelerate transfers of ownership in the near future.

FSP Article 2011 Sept (Click here to download PDF)