Say bye-bye to passive activity losses: A possible past-time for LLCs and LLPs
January 1st, 2010
Limited liability companies (LLCs) and limited liability partnerships (LLPs) are well ingrained as two of the preferred techniques used by estate planning professionals. Both LLCs and LLPs offer significant advantages that many other techniques do not: valuation discounts, retention of control, and tax efficiency. To the delight of those individuals who use LLCs and LLPs in their estate planning work, the perceived tax efficiency of these methods has improved through two recent court cases...