To accurately assess tax liabilities, transactions reported on an income tax return must comply with IRS guidelines to determine the fair market value of a closely-held business interest. Tax-related valuations are prepared for a variety of purposes, such as compensation, charitable contributions, S corporation elections and purchase price allocations. A well-prepared valuation can prevent excess tax and alternatively, can protect against unforeseen tax, penalties and interest. For additional information about our Business Valuation services, contact David A. Storer, CPA/ABV, CVA, Tax Partner or Elizabeth B. (Beth) Grubb, CPA/ABV, CVA, CFP, Tax Partner.
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