The Qualified Family-Owned Business Exclusion: An Estate Planning 'Boom' or 'Bust'?
- The new family-owned business exclusion. Bray, Christopher P.; Droppleman, Mike // Ohio CPA Journal;Jan-Mar98, Vol. 57 Issue 1, p46
Presents information on the Internal Revenue Code Section 2033A, `Family-owned Business Exclusion,' which was added by the 1997 Taxpayer Relief Act in the United States. Examination of Section 2033A; Details on qualified family-owned business interest; Information on the recapture tax.
- Blood money. Williams, Gordon // FW;9/28/93, Vol. 162 Issue 19, p66
Discusses intra-family financial dealings and related Internal Revenue Service (IRS) tax rules. Money matters as cause for family feud; Haft family lawsuits; Financial assistance for business or home purchase; Issue of gift or loan; IRS rates and tax exclusions; Agreement in legal documents;...
- Benefits from the Taxpayer Relief Act of 1997. // Modern Machine Shop;Dec97, Vol. 70 Issue 7, p287
Opinion. Comments on the potential benefits of the Taxpayer Relief Act of 1997 on family-owned manufacturing companies in the United States. Gift tax exclusion; Reduction in maximum income tax rate imposed on capital gains; Taxation of preferred stock; Empowerment zone measures of the bill.
- Keep what you've earned. Buchholz, Barbara B. // Crain's Chicago Business;08/09/99, Vol. 22 Issue 32, pSB8
Offers information for family business owners on what to know about tax laws before selling shares of their firm. Maximum capital gains tax rate for assets held more than 12 months; Type of payout as it relates to specific taxes that must be paid; Getting the entire sum in one payment as an...
- Cracking the Code. SHENKMAN, MARTIN M.; SACKLER, LORI // Financial Planning;Apr99, Vol. 29 Issue 4, p124
Provides information on special considerations and opportunities in planning for small and family-owned businesses. Obstacles faced by planners who work with family businesses; Special provisions included in the tax code for the benefit of family business; Information on the Taxpayer Relief Act...
- New tax law brings relief for small biz. Pletz, John // Indianapolis Business Journal;08/25/97, Vol. 18 Issue 23, p35A
Reports on how the new Death Tax Relief law will impact family-owned small businesses and farms in the United States. Total potential tax break for family-owned small businesses; Increase in the amount of assets one can pass on to heirs tax-free; Benefits of the new tax laws for business owners...
- Estate-tax break is tricky to figure out. Pryde, Joan // Nation's Business;Apr98, Vol. 86 Issue 4, p24
Focuses on a special estate-tax break for family-owned businesses enacted as part of the Taxpayer Relief Act of 1997. Complications of the tax law that may require consultation with estate-planning attorneys; List of applications to help determine eligibility to claim the special exclusion; How...
- Estate Tax Relief for Family Businesses?? Burgess, Holly A. // Franchising World;Mar/Apr98, Vol. 30 Issue 2, p44
Explains the family owned business exclusion as part of the 1997 Taxpayer Relief Act in the United States. How family owned business exclusion will affect one's potential estate taxes; Estates that best benefits by the exclusion; Conditions to qualify in the tax exclusion.
- Change of family business `exclusion' to `deduction' increases complexity of planning. Commito, Thomas F. // National Underwriter / Life & Health Financial Services;10/5/98, Vol. 102 Issue 40, p7
Explains how the Technical Corrections Act of 1998 modified the family-owned business exclusion contained in former Internal Revenue Code Section 2033A originally introduced by the Taxpayer Relief Act of 1997. Exclusion from the value of decedent's gross estate the value of certain family-owned...