When you give away shares in your private company or pass them on to your heirs, you need to know what they’re worth. A documented valuation helps support that value, gives you a basis for reporting it on your taxes, and provides evidence if the IRS ever questions the transaction.
Choosing the right valuation firm matters most for closely held businesses, where ownership restrictions, minority interests, and limited marketability can make valuations more complex.
To help business owners, shareholders, and estate planning professionals evaluate their options, we’ve selected five gift and estate tax valuation companies based on their expertise, valuation capabilities, and suitability for different types of engagements.
Which Gift and Estate Tax Valuation Firms Stand Out?
The right gift and estate tax valuation firm depends on the assets being transferred and the complexity of the ownership structure.
Comparison of the Top 5 Gift and Estate Tax Valuation Firms
| Company | Best For | Key Strength |
| Eqvista | Private company owners and shareholders | In-house valuation team, private company equity expertise, and integrated valuation services |
| Mercer Capital | Family-owned and closely held businesses | Business succession, complex ownership structures, and valuation discounts |
| Stout | Complex estates and valuation disputes | Multi-asset estate valuations, tax controversies, and expert witness services |
| Andersen | Wealth transfers and tax planning | Integrated tax advisory, estate planning, and gift tax valuations |
| Eton Venture Services | Venture-backed companies and complex equity | Startup equity valuations, complex securities, and venture-backed company expertise |
How We Evaluated Gift and Estate Tax Valuation Firms
We evaluated these five firms based on publicly available information about their gift and estate tax valuation services, professional qualifications, and areas of expertise.
Our comparison considered:
- Valuation expertise: Experience with closely held businesses, private company shares, and other assets.
- Professional qualifications: Relevant valuation credentials and the experience of the professionals conducting the engagements.
- Complex Ownership: Familiarity with minority interests, family limited partnerships, LLCs, and complex equity structures.
- Reporting and documentation: Experience preparing valuations for tax reporting and supporting clients during IRS examinations or valuation disputes.
- Additional services: Related tax advisory, business valuation, and equity valuation capabilities.
The “Best for” categories reflect our editorial assessment of each firm’s publicly described capabilities, rather than a standardized scoring system or a comprehensive assessment of client outcomes.
Readers should verify each provider’s current services, qualifications, engagement scope, and fees before making a decision.
5 Best Gift and Estate Tax Valuation Firms in 2026
1. Eqvista, Best Overall for Private Company Owners and Shareholders
Eqvista is a private company valuation and equity management platform serving more than 25,000 companies worldwide, with over $9 trillion in company assets valued. Its gift and estate tax valuation services help business owners, shareholders, and estate planning professionals establish fair market value for lifetime gifts, ownership transfers, and estate tax reporting.
Eqvista’s 100% in-house valuation team includes NACVA-certified professionals, Certified Valuation Analysts (CVAs), and CFA charterholders. The team uses methods such as discounted cash flow (DCF) analysis and market comparables to value privately held businesses and other assets for gift and estate tax purposes.
A key advantage is Eqvista’s experience with private company equity and capital structures. Valuing shares in a privately held business can require analysis of different ownership rights, transfer restrictions, and limited marketability, particularly when the interests being transferred are not publicly traded.
Beyond gift and estate tax valuations, Eqvista provides 409A valuations, fair market valuations, intellectual property valuations, and equity management solutions. This makes Eqvista a practical choice for business owners who need specialized valuation services now and may have additional valuation needs as their companies grow or ownership changes.
Key strengths
- Fully in-house valuation team with NACVA-certified professionals, CVAs, and CFA charterholders.
- Experience valuing private company shares and ownership interests.
- Valuation reports backed up by DCF analysis, market comparables, and the relevant financial data.
- Broad expertise in gift and estate tax, 409A, FMV and IP valuations.
- Experience working with private companies, from early-stage startups through to pre-IPO.
Best for
Private company owners, founders, shareholders, and estate planning professionals looking for specialist valuation expertise and a long-term partner for their business valuation needs.
Considerations
Clients needing international estate tax planning or broader wealth management advice may also need a dedicated tax or estate planning advisory firm.
2. Mercer Capital, Best for Family-Owned Businesses and Succession Planning
Mercer Capital has provided business valuation and financial advisory services since 1982. Its work includes gift, estate, and income tax valuations for closely held businesses, family limited partnerships, and other complex ownership interests, particularly in estate planning and wealth transfers.
The firm has experience with large, multi-entity estates, including valuations involving layered ownership structures, cross-ownership arrangements, and interests in privately held businesses. Its published engagements include appraising an estate with more than 190 ownership interests across private companies, investment funds, and real estate holding entities.
A particular strength is Mercer Capital’s analysis of discounts for lack of control (DLOC) and lack of marketability (DLOM). These discounts can be relevant when valuing minority interests in family businesses, where voting rights, transfer restrictions, and the ability to influence company decisions affect fair market value.
Mercer Capital also provides valuation consulting for gift and estate tax controversies, making it a strong option for families and advisors managing complex ownership transitions or valuations that may face IRS scrutiny.
Key strengths
- More than four decades of gift, estate, and income tax valuation experience.
- Expertise in family limited partnerships and multi-entity ownership structures.
- Documented experience with large, complex estates.
- Valuation of minority ownership interests, including applicable discounts.
- Support with IRS inquiries and disputes in tax valuations.
Best for
Family businesses, closely held companies, and estate planning professionals dealing with succession planning, intergenerational wealth transfers, or complex business ownership interests.
Considerations
Mercer Capital may be a better fit for complex estates and ownership arrangements. For someone who only needs a valuation of a single private company interest, its services may be more than necessary.
3. Stout, Best for Complex Estates and Valuation Disputes
Stout is a global financial advisory firm with a dedicated trust and estate valuation practice serving high-net-worth individuals, family offices, trustees, and estate planning professionals. With more than 35 years of experience in this area, the firm specializes in complex valuations for estate planning, wealth transfers, and tax reporting.
Stout’s expertise covers closely held businesses, family limited partnerships, private equity and hedge fund interests, real estate, intellectual property, and complex securities. This makes it useful for estates involving multiple asset classes that require different valuation approaches.
The firm has documented experience handling large, complicated estates. In one published engagement, Stout valued business and real estate interests belonging to the estate of an industrialist and property developer, coordinating multiple valuation specialists to complete the reports for estate tax filing.
Another advantage is its work in tax controversies and valuation disputes. Stout provides expert testimony, valuation discount studies, and consulting support when complex valuations face IRS scrutiny or litigation.
Key strengths
- Over 35 years of experience in trust and estate valuations.
- Valuation expertise covering private businesses, real estate, investments, and complex securities.
- Experience handling large estates with different types of assets.
- Studies of valuation discounts for family limited partnerships and LLCs.
- Assistance with tax disputes and expert witness work.
Best for
High-net-worth individuals, family offices, trustees, and estate planning professionals dealing with large estates, considerable wealth transfers, or valuation disputes.
Considerations
Clients seeking a straightforward valuation of a single private company interest may not require the breadth of Stout’s multidisciplinary valuation and dispute advisory services.
4. Andersen, Best for Tax-Driven Wealth Transfers
Andersen offers gift and estate tax valuations alongside its tax planning and wealth transfer services. Its services are suited to individuals, families, and business owners who need valuations as part of estate planning or tax reporting.
The firm’s valuation professionals work with closely held businesses, family limited partnerships, LLCs, and other ownership interests involved in wealth transfers. Andersen also provides valuations for charitable donations, buy-sell agreements, intellectual property, and real estate, supporting clients with different assets and ownership arrangements.
A distinguishing strength is Andersen’s ability to coordinate valuation work with related tax advisory services. For families transferring business ownership to the next generation, this approach connects valuation work with tax reporting and succession planning.
Andersen also has experience assisting clients during IRS audits. Its wealth transfer practice specifically addresses valuation issues that can arise when closely held business interests are transferred, including the need for well-supported analyses that can withstand regulatory scrutiny.
Key strengths
- Integration of gift and estate tax valuations with tax planning and compliance.
- Experience valuing family limited partnerships, LLCs, and closely held business interests.
- Expertise in intergenerational wealth transfers and estate planning.
- Valuations of real estate, intellectual property, and other assets.
- Support during IRS audits and examinations.
Best for
High-net-worth individuals, business-owning families, and estate planning professionals seeking coordinated valuation and tax advisory services for wealth transfers.
Considerations
Clients who only need a standalone valuation of a private company interest may not require Andersen’s broader tax planning and wealth advisory services.
5. Eton Venture Services, Best for Venture-Backed Companies and Complex Equity
Eton Venture Services is an independent business valuation firm founded in 2010 that specializes in private companies, venture-backed businesses, and complex financial instruments. The firm reports completing more than 10,000 venture valuations and offers gift and estate tax valuations alongside its broader tax compliance and financial advisory services.
Eton’s gift and estate tax valuation practice follows recognized guidance, including IRS Revenue Ruling 59-60. Its analysis considers company financial performance, financing history, market conditions, and comparable public and private businesses to establish fair market value for wealth transfers and estate planning.
A distinguishing strength is Eton’s experience with venture-backed equity and complex securities. This is useful when valuing ownership interests in startups with preferred stock, multiple funding rounds, or other securities that require more detailed financial modeling.
Eton also publishes a defined valuation process, with draft reports typically delivered by day eight and final reports by day ten. The firm offers ongoing audit support and additional services including 409A valuations, portfolio valuations, and intellectual property valuations.
Key strengths
- More than 10,000 venture valuations have been reported since its founding.
- Experience with venture-backed companies and complex securities.
- Gift and estate tax valuations guided by IRS Revenue Ruling 59-60.
- A published valuation process with a typical turnaround of 10 days.
- Continued audit support and additional valuation services.
Best for
Startup founders, venture-backed company shareholders, and financial advisors seeking gift and estate tax valuations involving complex equity structures or privately held securities.
Considerations
Clients with estates that include considerable real estate holdings, international tax considerations, or a wide range of assets may be served by a firm offering a broader range of estate planning and advisory services.
How to Choose a Gift and Estate Tax Valuation Firm
Not every valuation firm has the same experience with gift and estate tax engagements. When selecting a provider, the goal is to find a firm that understands the assets being valued and can deliver a well-supported fair market value conclusion for tax reporting purposes.
Here are five factors worth considering:
Professional Qualifications and Experience
Check whether the valuation team holds credentials, such as Certified Valuation Analyst (CVA), Accredited Senior Appraiser (ASA), or Accredited in Business Valuation (ABV). Also consider their experience with gift and estate tax valuations, especially if you own a private business or have complex ownership arrangements.
Professional credentials alone do not guarantee that an appraiser meets every applicable IRS requirement. The appraiser should also have relevant experience valuing the specific type of property involved.
Experience with Your Type of Assets
A startup, a family-owned business, and an estate with several types of assets all require different valuation approaches. Look for a firm that has worked with assets similar to yours and understands the ownership structure and industry involved.
Valuation Methods and Supporting Documents
Ask the firm how it will arrive at the valuation and what information it needs. The report should explain the methods, the financial assumptions , and how the final value was determined. For private company shares, this could involve an income, market, or asset-based approach. Discounts for lack of control or marketability may also apply, depending on the ownership interest.
IRS Revenue Ruling 59-60 provides guidance on the factors to consider when valuing closely held business interests for gift and estate tax purposes.
IRS Reporting and Valuation Support
The IRS may question a gift or estate tax valuation, so the report needs to show how the firm arrived at its conclusion. Ask what the report includes, particularly the valuation date, methods used, financial assumptions, and details about the ownership interest being valued.
Confirm whether the professionals are available to provide explanations, additional documentation, or other support if the IRS questions the reported value.
Scope, Timeline, and Fees
Before signing an engagement, find out what you’ll receive, what documents the firm needs, how long the valuation will take, and what it will cost. Ask about extra charges for report updates or help if the IRS questions the valuation.
The right firm isn’t the largest or the cheapest. Look for one that has handled similar valuations, can explain how it arrived at its figures, and provides a report that meets your needs.
For a broader comparison of valuation providers across different business needs, see our guide to the best valuation companies.
Gift Tax vs. Estate Tax Valuations: What’s the Difference?
Gift and estate tax valuations both establish the fair market value (FMV) of assets for federal tax purposes. The main difference is when the ownership transfer occurs and which valuation date applies.
| Gift Tax Valuation | Estate Tax Valuation | |
| Purpose | Values assets transferred during a person’s lifetime | Values assets included in a deceased person’s estate |
| Valuation date | Generally the date of the gift | Generally the date of death, with an alternate date available in certain cases |
| Common assets | Private company shares, family business interests, and interests transferred to trusts | Closely held businesses, investment interests, real estate, and other estate assets |
| IRS reporting | Form 709 (when applicable) | Form 706 (when applicable) |
| Typical use cases | Lifetime gifting, succession planning, and wealth transfers | Estate administration, estate tax reporting, and inherited business interests |
For privately held businesses, both types of valuations may require additional analysis of ownership rights, transfer restrictions, and discounts for lack of control or marketability. Working with an experienced valuation firm helps ensure the firm considers the specific circumstances of the transfer and provides appropriate supporting documentation for the valuation.
Frequently Asked Questions About Gift and Estate Tax Valuations
How much does a gift or estate tax valuation cost?
The fee will vary depending on what needs to be valued and how complicated the work is. Valuing a single ownership interest in a private company is usually less involved than assessing multiple businesses, complex securities, or several layers of ownership. The amount of financial information available and the work required also affect the price. Most valuation firms provide a quote after reviewing the details of the engagement.
Who is qualified to perform a gift or estate tax valuation?
Gift and estate tax valuations require professionals with relevant valuation expertise and experience in the type of asset being appraised. Common credentials include Certified Valuation Analyst (CVA), Accredited Senior Appraiser (ASA), and Accredited in Business Valuation (ABV). For complex business interests, experience with IRS valuation requirements is particularly important.
How are privately owned company shares valued for gift and estate tax purposes?
There are three common ways to value shares in a private company: the income, market, and asset-based approaches. The method depends on the company’s financial position and the information available. Valuation also considers factors such as earnings, comparable businesses, shareholder rights, and restrictions on selling the shares. Discounts for lack of control or marketability may also apply, depending on the ownership interest and relevant tax rules.
Does the IRS require a professional valuation for gifted or inherited business shares?
You don’t always need a separate professional appraisal for every transfer. But when a gift or estate includes shares in a private company, establishing and documenting their value can be important, especially when there is no public market price to refer to. Depending on the tax filing and reporting requirements, you may also need a qualified appraisal or other valuation support.
Can minority ownership interests get valuation discounts?
Yes. A minority interest in a private company may qualify for discounts for lack of control (DLOC) or lack of marketability (DLOM). Whether these discounts apply, and how much they reduce the value, depends on factors such as the shareholder’s rights, restrictions on selling the shares, the company’s financial position, and applicable tax rules.
What documents are needed for a gift or estate tax business valuation?
Most firms will ask for financial statements, tax returns, cap table or ownership records, and company agreements. They may also ask the company to provide details about its business, future plans, the shares being transferred, recent transactions, and any restrictions on selling or transferring those shares.
How long does a gift or estate tax valuation take?
Most valuations take several weeks, though the timeline depends on the company and the records involved. Matters can take longer when several entities are involved, financial documents are missing, or the ownership structure is complicated. If you have a tax filing deadline, discuss the timeline with the firm and find out what documents it needs before starting.
Choosing the Right Valuation Partner
The right valuation firm depends on what you’re transferring and how the ownership is set up. Gifting company shares to a family member, transferring an interest to a trust, or including business assets in an estate can each raise different valuation questions. Look for a firm that has handled the type of transfer you’re planning.
For private company owners and shareholders, Eqvista stands out for its in-house valuation team, expertise in complex ownership structures, and broad range of private company valuation services. If you’re preparing for a gift or estate-related transfer, explore Eqvista’s Gift and Estate Tax Valuation Services to learn how its valuation professionals can support your needs.
Editorial Disclosure: Cheqly and Eqvista are affiliated companies. This comparison is based on publicly available information about each provider’s services and areas of specialization. Readers should evaluate each firm based on their specific valuation requirements.