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Family businesses warn looming estate‑tax changes could force sales or restructuring
2239094 · January 14, 2025
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Summary
Advisors and owners of family businesses and farms warned that a scheduled cut in the federal estate‑tax exemption could force illiquid families to sell assets or restructure, causing local economic and job impacts.
Accountants and owners who work with family businesses and farms told the House Ways and Means Committee the impending reduction of the federal estate tax exemption would create severe liquidity and succession problems for capital‑intensive family firms.
Michelle Gallagher said farmers and family business owners “may appear wealthy on paper, but almost always…
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