Regular valuations are a must for every business owner developing a succession plan. But the valuation process can involve a variety of hard-to-see issues. For example, it can be tempting to minimize a business’s value to reduce possible estate tax liability in the future, but this can raise a red flag with the IRS. Also, if you have heirs not involved in the business, an appraiser may need to adjust his or her approach to the valuation. Funding your retirement with ownership shares has value implications as well. For help managing these complexities, contact us.
Valuation often affects succession plans in hard-to-see ways
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