Death and Taxes: A New Take on an Old Problem
Robert F. Mancuso’s newest article, “Death and Taxes: A New Take on an Old Problem”, is now featured on RealClearMarkets
“Death and taxes. They are often called the only two certainties in life. Yet for countless family-held businesses, these inevitabilities collide when the owner passes away. There are millions of family-held businesses across this country. Many are at risk: when transferring ownership from one generation to the next, financial obligations often threaten the family business’s very existence.”
Estate tax is a topic that receives considerably fewer headlines than other sources of government revenue (i.e. income tax), but has far reaching impacts on family businesses and their owners, employees and communities. This article highlights several trends and the resulting implications that families will face when the next generation inherits the family business, as well as the importance of succession planning to ensure that family businesses and their legacies are preserved.
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