The appraisal of the fair market value of a closely held business is necessary when giving a gift of an interest in the business or upon the date of death of an owner of that business. Fair market value must be determined by an appraisal which takes into consideration a number of factors set forth in the Internal Revenue Code, Treasury Regulations and various revenue rulings, technical advice memorandums and private letter rulings.

J&M’s experience with and knowledge of these cases and rulings is vital to assuring that their valuation work holds up to the scrutiny of the appropriate authorities.

Our appraisals for federal gift and estate tax (date of death) purposes are performed in accordance with the Uniform Standards of Professional Appraisal Practice (“USPAP”) and the Business Valuation Standards (“BVS”) as issued by the American Society of Appraisers. We consider the asset, market and income approaches and determine whether any discounts or premiums are applicable for the interest.