When submitting comments it is important to highlight several points:
- Tell your story, how long has your business been open, who founded it, how many employees do you have, how many customers, where do you operate.
- How does your succession plan use valuation discounts to help pass on the business? If your business has already survived one generation, were valuation discounts useful in that transfer?
- How will the proposed rule affect your succession plan and the transfer of your business?
- If the rule change increases your estate tax liability, what will that do to your employees? Reduction in workforce, benefits, or wages? Slower future growth?
- Could this change potentially cause the liquidation of the business to pay estate or gift taxes?