Passing on the Business without Passing on Taxes

Daks, Martin C.
November 2005
njbiz;11/14/2005, Vol. 18 Issue 46, p25
Offers advice on succession planning during the end of the year to reduce tax liability in New Jersey. Actions to be taken to handle possible conflict that may arise on selecting a person to succeed the business; Maximum amount of gifts that a person can give without incurring gift tax; Advantage of using family limited partnership to avoid gift tax. INSET: Avoid Paying Gift Tax while Transferring the Company.


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