When business owners have partners and consider their succession planning, the topic of a buy-sell agreement comes up. This post discusses the possible use of an “insurance-only LLC” as part of a buy-sell....more
9/16/2022
/ Buy-Sell Agreements ,
Buyouts ,
Cross-Selling ,
Deceased ,
IRS ,
Life Insurance ,
Limited Liability Company (LLC) ,
Partnerships ,
Redemption Agreement ,
Shareholders ,
Step-Up Basis ,
Trustees
Closely-held businesses come in all shapes and sizes. Some owners own 100% of their businesses. Some have partners. Some have children in the business. Some do not. A common question that a client asks the business and...more
3/3/2021
/ Asset Protection ,
Business Succession ,
Closely Held Businesses ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Gift Tax ,
Income Taxes ,
Partnerships ,
Succession Planning ,
Surviving Spouse ,
Trusts
The US Tax Court recently held that a foreign corporation is not subject to US income tax on the sale of a partnership interest where the partnership conducts a US business. In so holding, the Tax Court rejected a 26 year...more