Most U.S. businesses operate as so-called “pass-through” entities, including partnerships, limited liability companies (LLCs) and S corporations. Electing pass-through status allows these businesses to avoid entity-level taxes. Instead, taxes are paid at the level of the individual owners. For years, the IRS and valuation professionals were at odds over how to value pass-through businesses because of…

The death of a loved one is always difficult but it can be even more challenging if you are the one who must handle all the resulting tax responsibilities. More Miscellaneous DetailsIf an estate must file income tax or estate tax returns, a federal employer identification number (EIN) must be obtained from the IRS.You should open…

Intellectual property is a source of significant value for many businesses today, but it can be difficult to value. There are three main reasons it’s hard to value. First, it can be hard to understand, because it’s often technical in nature. Second, there are many types of intellectual property and each asset is unique by nature. (For example, the U.S. Patent Office only…