Article Date:
September 2012


Word Count:
628

 

 

Tax Breaks on Shift of Corporate Ownership to Kids (and Others)


When it comes time to retire, what is to become of your corporation?

 

There are lots of possibilities.

 

But here’s one from a recent IRS private letter ruling that gives you a nice blueprint for what’s possible.1 In this ruling, the father owned 100 percent of the stock, gifted some stock to his children, and then had his corporation buy his remaining shares.

You can use this technique or some variation if you want to sell to an employee, to a business ... Log in to view full article.

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