Blog for John Sweeney - Elder, Wills, Estates, Trusts, Special Needs, Business, & Tax Lawyer in CT and NY

Family Limited Partnership Tax Benefits

Posted by John Sweeney | Aug 17, 2015 | 0 Comments

The tax games available for Family Limited Partnerships are about to be severely limited.   FLP's are often used for tax limiting purposes in estate planning and the transfer of business ownership.  

On August 6, 2015, the Department of the Treasury issued Notice 2015-54 announcing its intent to issue new regulations addressing Family Partnership transactions or, more broadly, involving partnerships formed by related parties.The Notice indicates expansive new regulations intended to address situations in which Treasury believes partnership transactions among related parties can lead to inappropriate tax results.

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John Sweeney

John is an experienced lawyer who helps you solve your problems. He practices Elder, Wills, Estates, Trusts, Special Needs, Business, & Tax Law in Fairfield County CT and Westchester County New York. He brings a wealth of experience in law, business, tax, insurance, and finance to arrive at practical solutions with compassion and care. Honest, direct and practical, he is focused on you and your problems. He also brings a wealth of personal experience from his own large family and aging parents.

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Elder, Wills, Estates, Trusts, Special Needs Tax & Business Law; Attorney John Sweeney

Sweeney Legal, LLC, provides legal, practical, and business counsel to Seniors, families, and businesses in the Fairfield, Connecticut area, including the communities of Bridgeport, Bethel, Brookfield, Danbury, Darien, Easton, Fairfield, New Canaan, Newtown, Norwalk, Redding, Ridgefield, Stamford, Weston, Westport and Wilton. John is also licensed in New York serving Westchester County including the towns of Bedford, Lewisboro, Mount Kisco, North Salem, Pound Ridge, and Somers.

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