Value your business to protect your family from the IRS

Every business must be valued, voluntarily or involuntarily, for tax purposes to protect it from IRS. If someone owns a closely held business and does not pin down its value for tax purposes, he is preparing himself to be mugged up by the IRS. The businessman must put a transfer plan into place during his life to ensure successful and tax free ownership by his children. This measure will let the businessman keep his control over his business as long as he lives, without any hassles.