Interested in training for your team? Click here to learn more

Valuations and Appraisals: Tax Saving Opportunities for Estates, Businesses, and Individual Contributions

Note: CLE credit is not offered on this program

A live 110-minute CPE webinar with interactive Q&A

This program is included with the Strafford CPE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Wednesday, May 8, 2024

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

or call 1-800-926-7926

This webinar will analyze IRS requirements for valuations and appraisals. Our panel of financial analysts will compare scenarios in which appraisals are required with those in which they can bolster tax planning strategies for charitable contributions, business succession, and estate and gift tax.

Description

The numerous cases that disallow substantial charitable contributions due to the lack of a qualified appraisal continue. (Chrem, et al. v. Commissioner (T.C. Memo. 2018-164), Estate of Hoensheid v. Commissioner (T.C. Memo. 2023-34), Braen, et. al. v. Commissioner, (T.C. Memo 2023-85)). In the latter case, Braen v. Commissioner, the taxpayers lost a $5.22 million charitable deduction because, among other shortfalls, they failed to get "qualified appraisals." In addition to losing a substantial charitable deduction, the Braens could be penalized for substantial understatement of income tax and negligence.

In certain situations, a valuation is required by the IRS, while in others, a valuation would highly benefit taxpayers. IRS requirements for valuations of assets transferred by individuals for gifts or charitable contributions and those made by businesses and estates for ownership transfers or bequests vary significantly. A compliant valuation or appraisal can ensure a deduction is retained when the IRS requires an appraisal and provide additional tax savings and protections in situations where a valuation is recommended. Tax advisers working with taxpayers and taxable entities need to understand the nuances of valuations.

Listen as our panel of valuation experts explains how and when engaging a qualified appraiser is necessary to secure the tax savings offered under common tax-saving scenarios.

READ MORE

Outline

  1. Introduction: valuations and appraisals
  2. IRS requirements for appraisals
  3. IRS requirements for valuation reports
  4. Utilizing valuations and appraisals
    1. Estate plans
    2. Gifting
    3. Charitable giving
    4. Business succession
    5. Other opportunities
  5. Best practices

Benefits

The panel will cover these and other critical issues:

  • How the volatility of the market affects the need for valuations in estate plans
  • IRS requirements for valuation reports
  • How valuations can uncover tax planning opportunities in estate plans
  • When the IRS requires an appraisal by a qualified appraiser

Faculty

Borger, Michael
Michael J. Borger

Associate
Moritt Hock & Hamroff

Mr. Borger concentrates his practice in complex trusts and estates litigation, sophisticated estate planning, and...  |  Read More

Levine, Evan
Evan M. Levine

Founding Partner - Head of Valuation Engagements
Complete Advisors

Mr. Levine began his career in the summer of 1988 as the very first intern for Cowan Financial Group, a New York City...  |  Read More

Nainesh, Shah
Nainesh Shah, CFA, CVA

Partner
Complete Advisors

Mr. Shah grew up in Mumbai, India. He holds an MBA in finance from Dalhousie University, Canada, and a Bachelors in...  |  Read More

Attend on May 8

CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event. See NASBA details.

Cannot Attend May 8?

CPE credit is not available on downloads.

CPE On-Demand

See NASBA details.

Download