Authored by:
Frank Merenda,
CVA, ASA, BCA, CMEA, MBA, MSChE
Sobel Valuations LLC
Gift Tax
The gift tax annual exclusion amount has increased to $15,000 per recipient in 2018, which is up from $14,000 in 2017. In this situation, individuals owning a privately held company would be eligible for the same gift tax exemptions and annual exclusions with regard to transfers of ownership interests. In addition, the generation-skipping transfer tax rules that applies to gifts to grandchildren and younger generations will receive the same exemption benefit.
What can this mean for small or private business owners?