When transferring ownership of a business, tax considerations tend to favor gradual transfer of ownership to all heirs.

Name: When transferring ownership of a business, tax considerations tend to favor gradual transfer of ownership to all heirs.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Gradual transfer of ownership allows for tax benefits such as reduced gift and estate taxes, and it also allows the business to continue operating without disruptions or a sudden change in leadership.

When Transferring Ownership of a Business, Tax Considerations Tend to Favor