Strategic estate planning could save your clients millions.
By Anthony Venette, CPA/ABV
We stand at the precipice of the largest wealth transfer in American history. Millions of business owners are struggling to write the next chapter of their companies and their legacies. Prudent gift and estate tax planning can be the difference between creating generational wealth and squandering it. Gifting privately held business interests to a child or children can be an effective and tax-efficient way to maximize wealth transfer and achieve legacy planning goals.
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That being said, many business owners are unaware of the benefits of gifting interests in their businesses rather than cash. Here are four important reasons why gifting business interests can be advantageous:
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