Home | Databases | WorldLII | Search | Feedback Edited Legal Collections Data

"INCOME TAX PLANNING OPPORTUNITIES FOR FAMILY BUSINESSES AND OWNERS" [2019] ELECD 1434; in Zwick, A. Gary; Jurinski, J. James (eds), "Tax and Financial Planning for the Closely Held Family Business" (Edward Elgar Publishing, 2019) 430

Book Title: Tax and Financial Planning for the Closely Held Family Business

Editor(s): Zwick, A. Gary; Jurinski, J. James

Publisher: Edward Elgar Publishing

Section: Chapter 14

Section Title: INCOME TAX PLANNING OPPORTUNITIES FOR FAMILY BUSINESSES AND OWNERS

Number of pages: 40

Abstract/Description:

Consultants to family businesses need to be familiar with the income tax aspects of the ownership of family businesses. In some cases, the income tax rates are as high as the transfer tax rates and the tax may be payable long before the transfer tax is due. The chapter explores the important issues surrounding choice of entity, changing from one entity to another, accounting periods and methods, deferrals, basis and then offers several creative planning opportunities to family business owners and their families.