Small business owners may qualify for the special use valuation method

Description

Abstract: The need for estate planning is essential for small business owners who have most of their personal fortune tied up in the operation. Fortunately, they may have an ace up their sleeves: the special use valuation method. With this approach, a person’s executor may secure significant tax savings when the owner’s business interest is passed to heirs. This article details the benefits of a special use valuation method. A sidebar explains how an executor can elect to use the special use valuation method.