WebFLP ISSUES. The taxpayer’s ability to discount the value of the underlying assets when FLP interests are transferred (either as gifts or as part of an estate) is the key to obtaining tax savings. In general, when property is transferred, its taxable value is determined based on its fair market value (FMV), which is the price a willing buyer ... WebSep 14, 2024 · An FLP, however, allows the owner to set up family members as limited partners, and allow them to transfer partnership interests over time. This results in a gradual, systematic transfer of ownership. The value of the partnership interests is not included in the value of the estate of the general partner when he dies. 3. There Are Significant ...
How Family Limited Partnerships Can Lower Gift and Estate Taxes
WebDiscounted rates are not available to residents of all states. In some states, the discount is based on the completion of a firearms safety or licensing course. Have A Question? Use the buttons to visit our FAQ or contact pages. The FAQ page provides a lot of detail on some of the most frequently asked questions. WebJun 23, 2024 · While the case theoretically was an IRS victory because it was able to knock down aggregate valuation discounts from 66.7% to 59.5%, it really was a taxpayer victory for taxpayers seeking “double discounts” in tiered … chloe ralph
Compendium of Federal Estate Tax and Personal Wealth Studies
WebOct 9, 2001 · Then the FLP interests are transferred to the trust. applying a 30 percent discount to the stocks by reason of the FLP, the value of the gift of the remainder to the children may be reduced by two-thirds or more, depending upon the age of the donor and the amount of the annual payout to charity. 28 In a case like this, logic would appear to … WebAug 24, 2016 · The recent proposed regulations provide the IRS with more ammunition with which to attack FLP valuation discounts. In particular, the proposed regulations reflect … WebSome FLP valuators assign a discount from the net asset value of the underlying securities, as is reflected in the prices of some closed-end mutual funds and real estate investment trusts. The discount is increased for higher levels of … chloe ratings