Business valuation is a critical component to your estate or business succession planning. Your business maybe your largest asset, and if you plan to engage in either one of these types of planning, at some point you will need to determine the taxable value of your business interest. An incorrect value (i.e. one that is underestimated) could cause you to miss out on tax-saving strategies, while a value that is inflated could result in an investment of time and money in unnecessary planning.
The best way to determine the value of your business is to find a qualified appraiser. Determining the value of your business is not something you should attempt on your own, especially in light of the fact that the IRS could challenge your valuation. Glass Jacobson has a team of four Certified Valuation Analysts (CVAs) who specialize in determining the value of a business.
Schedule a free consultation to see if you would need a calculation of value (less expensive valuation), or a full business valuation.