Noteworthy Case on Valuation
Date postedOctober 1, 2019
From Gomel, Davis & Watson, LLP:
A recent Tax Court case may be beneficial to owners of lumber mills and timberlands who are considering making large transfers of their interests to other family members. In the case of Jones vs. Commissioner, the taxpayer was successful in using lower values for gifts of interests in closely-held entities based on the income approach, as well as "tax-affecting" the value.
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