For business owners, the idea of retiring and selling a business can be an overwhelming and daunting process. Donation of privately held business interests can be an effective and tax-efficient way to achieve tax savings and charitable giving and legacy planning goals of the business owner.
We have compiled five important tips for you and your client to consider when contemplating privately held business succession planning, including advice on:
- Preparing company documentation
- The value of the appraisal requirement
- Choosing a charitable giving strategy
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About Fidelity Charitable®
Fidelity Charitable is an independent public charity that has helped donors support more than 220,000 nonprofit organizations with more than $25 billion in grants since its inception in 1991. Fidelity Charitable® has accepted contributions of over $3 billion in complex, non-publicly traded assets and works directly with donors, their advisors, and corporate and business lawyers to facilitate the charitable transfer of these assets to achieve the most favorable tax treatment with the greatest charitable impact.
Fidelity Charitable is the brand name for Fidelity® Investments Charitable Gift Fund, an independent public charity with a donor-advised fund program. Various Fidelity companies provide services to Fidelity Charitable. The Fidelity Charitable name and logo and Fidelity are registered service marks of FMR LLC, used by Fidelity Charitable under license. The tax information provided is general and educational in nature, and should not be construed as legal or tax advice. Fidelity Charitable does not provide legal or tax advice. 799560.1.0