As you plan your estate, it's crucial to have a clear understanding of estate and gift tax valuation. Properly valuing your assets can help minimize tax burdens and ensure a smooth transfer of wealth to your beneficiaries. In this blog post, we will outline some important considerations to keep in mind when it comes to estate and gift tax valuation.
Determining Fair Market Value
Fair market value (FMV) is the standard used by the Internal Revenue Service (IRS) to establish the value of an asset for tax purposes.
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