After all, Clinton Holdings is a business enterprise with several business purposes. But the discounted value represents a realistic value that might be reached if the interest were being sold to an unrelated investor in an arms' length transaction. Family limited partnerships represent a legitimate planning vehicle for taxpayers who are interested in furthering their business interests and deferring taxes. Therefore, gifts of partnership interests often require independent appraisal. The IRS is openly challenging appraisals of FLPs and their underlying business purposes.
Solid appraisals validate appropriate valuation discounts available under current tax law.
We conduct business nationally from our main office in Memphis, Tennessee and our Louisville, Kentucky office. We provide a broad range of independent valuation and financial advisory services. Our services relate to gift and estate taxes, Employee Stock Ownership Plans, buy-sell agreements, fairness opinions, financial structuring of transactions and expert witness testimony. During 1998, we will provide services to approximately 400 clients located in more than 30 states and Canada. We have provided services to companies in more than 500 industry categories and identifiable sub-categories.