The drive to build a successful business takes skill, commitment and focus. Much of this can be lost without proper planning for both taxes and control in the event of an untimely death. It is important that you protect what you have built so it can help your kids and loved ones even after you are gone. A very efficient and easy way to transfer ownership is through gifting. Your legal advisor can help you decide if gifting is right for you and your family in your situation.

Should you choose to gift business assets to your children, it is vital that everything is correct, complete and accurate to ensure IRS compliance and that all of the tax and succession issues are covered. An accurate and detailed valuation report is critical to that process.

Too many owners give 110% effort when building their company but expend very little thought to what should happen to their business in the event they die. With proper planning and execution you can maximize what can be passed to your heirs. Your attorney and accountant should be part of any planning process, but a quality, independent valuation report can help ensure that documentation is accurate and defensible in court and with the IRS.

Another key area is gifting stock to a non-profit organization such as a university or a charity. This can prove to be an both an excellent tax strategy as well a major financial benefit to the non-profit organization. Without a valuation in place to determine the exact value of the equity being gifted how will the business owner doing the gifting, or the non-profit receiving it, be able to properly account for the value of the equity? How will it be accurately valued for tax purposes when it comes to file that years return? The only way to be certain all parties are protected in this transaction so that the gifting has the positive effect it was intended for is to have a professional appraisal completed. To begin the process of having TOP NATIONAL FIRMS BID on your valuation, contact us today.