Family limited partnership is perfect tax-planning strategy iStock/Thinkstock

Family limited partnership is perfect tax-planning strategy

Each state has passed legislation recognizing FLIPs The quality of the valuation expert you hire can make or break your sought-after tax results You can transfer almost any kind of property to a FLIP (stocks, bonds, real estate, other investments)

Do you own investment-type assets? If so, family limited partnerships (FLIPs) are a must-learn tax strategy. Every time the IRS pokes its head up to complain about some aspect of FLIPs, the courts beat the IRS over the head.