Estate & Gift Tax
The valuation of a design firm for estate tax purposes is critical because the estate tax value of a professional practice can determine whether the estate owes Federal estate taxes. In recent years, the Internal Revenue Service (IRS) has critically challenged estate tax valuations for closely-held companies and taxpayers are potentially subject to penalties as a result of the under-valuation of the assets that comprise the estate.
For these reasons, a proper estate tax valuation performed by our industry-leading experts is critical to avoid scrutiny by the Internal Revenue Service. We have extensive experience in valuing design firms for estate and gift tax purposes by taking into consideration the key elements that comprise the fair market value of the design firm for estate tax purposes in accordance with IRS Regulations.
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