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.
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)