The intent of this practice aid is to highlight best practices for valuations performed for estate and gift tax purposes. This practice aid does not provide in-depth discussions of business valuation methodologies. For that level of detail, there are a plethora of books, practices aids, and online courses available that explore the intricacies of business valuation. The Forensic and Valuation Services (FVS) section of the AICPA website can be a valuable resource for more in-depth learning materials. Instead, this practice aid will address the broader issues and topics related to business valuation specifically from the perspective of a CPA who performs the valuation of a business, business ownership interest, security, or intangible asset (herein after referred to as valuation analyst) for estate tax or gift tax purposes.
Access the Business Valuations for Estate and Gift Tax Purposes practice guide in the FVS Online Professional Library.
Chapter 1 – Scope
Chapter 2 – The Valuation Engagement
Chapter 3 – Overview of Pertinent Tax Code Sections and IRS Revenue Rulings
Chapter 4 – Overview of Case Law
Chapter 5 – Elements and Attributes of Reports
Chapter 6 – Control Versus Lack of Control
Chapter 7 – Discount for Lack of Marketability
Chapter 8 – Family Limited Partnerships and Limited Liability Companies
Chapter 9 – Miscellaneous Issues
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