Recently, the U.S. Supreme Court ruled unanimously in Connelly v. United States, that the valuation of a decedent’s shares in a closely held corporation for federal estate tax purposes must include insurance proceeds received...more
12/4/2024
/ Beneficiaries ,
Business Ownership ,
Business Succession ,
Buy-Sell Agreements ,
Closely Held Businesses ,
Connelly v United States ,
Death Benefits ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
Federal Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Life Insurance ,
Limited Liability Company (LLC) ,
Redemption Agreement ,
SCOTUS ,
Shareholders ,
Small Business ,
Survivorship
There are numerous reasons you might consider selling your business – it could be that retirement beckons, your business has reached its growth limit under current management or financial constraints, or an exit opportunity...more
Contractors, advisers, and employees (collectively, “Service Providers”) who receive property that is non-transferrable or subject to a substantial risk of forfeiture must generally defer their income recognition until those...more