The Importance of Business Valuations July 28, 2014 Our team just finished up the valuation of an architectural firm for gift tax purposes. It’s always nice to help a family business transition ownership from one generation to the next. Did you know that having a qualified appraiser prepare a detailed valuation report restricts the IRS to a three year audit window to challenge the value of a business interest? Improper documentation results in an indefinite IRS audit window.
