This article examines developments in estate, gift, and generation-skipping transfer tax planning and compliance between June 2007 and May 2008.
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TOPICS / ESTATES
Gift Tax
Handling Gifts and Bequests of LLC Interests
The gift of an LLC interest generally does not result in the recognition of gain or loss by the donor or the donee.
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.