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Restocking the Trusted Advisor's Toolkit (2019 Stand Alone - Audio USB)
Member Price$200.00
Non-Member Price$360.00
Merchandise Description

Restocking the Trusted Advisor’s Toolkit with Income Tax Planning Strategies

In his 2016 Trachtman Lecture, former ACTEC President Dennis I. Belcher outlined the need for change in the estate planning profession. He envisioned a future in which ACTEC Fellows would serve as our clients’ trusted advisors across multiple areas of law. One area that Dennis identified as a part of this role was income tax planning.

Estate planning has historically focused on estate taxes. Changes in the applicable exclusion amount, and the introduction of portability, have thrust income tax planning considerations into the forefront of tools that estate planners need to have in their toolkits. For many of our clients, ACTEC Fellows will fulfill the role of trusted family advisor in part through income tax planning advice. This program will provide the foundation for everything estate planners need to know about income taxes. It is intended not only for Fellows who are unfamiliar with income taxes, but also for those who are very knowledgable. The speakers will share advanced techniques and strategies that all Fellows can use to achieve better tax results for our clients.

Panelists for Stand-Alone:
David A. Berek, Chicago, IL
Professor Samuel A. Donaldson, Atlanta, GA
S. Stacy Eastland, Houston, TX
Gregory V. Gadarian, Tucson, AZ
Edwin P. Morrow, III, Cincinnati, OH
Brian C. Sparks, Tampa, FL
Karen Sandler Steinert, Minneapolis, MN

WEDNESDAY/DAY 1

Session 1: Introduction and Income Taxation of Individuals

The panel will examine the interrelationship between estate planning and individual income taxes, including the net investment income tax, the Self Employed Contributions Act (SECA), and the Federal Insurance Contributions Act (FICA); as well as the effects of the 2017 Tax Cuts and Jobs Act.

Speakers:
Professor Samuel A. Donaldson
Gregory V. Gadarian

Session 2: Social Security and Medicare Benefits

This session will review the eligibility rules for Social Security and Medicare, the federal and state income taxation of Social Security, and the ability of dependents to receive these benefits.

Speaker:
Gregory V. Gadarian

Session 3: Income Taxation of Estates and Trusts

In this session the panel will examine the federal income taxation of estates and trusts. Planning techniques, including sprinkle and spray trusts, treating capital gains as part of distributable net income (DNI), qualified business income deductions, and beneficiary withdrawal rights will be covered. State income tax issues will also be discussed, including updates on the Kaestner and Fielding cases.

Speakers:
David A. Berek
Professor Samuel A. Donaldson
Karen Sandler Steinert

Session 4: Income Taxation of C Corporations, S Corporations and Partnerships

This session will explore the next step in incorporating income taxation into our clients’ estate plans, which is to understand the taxation of corporations and partnerships. The panel will provide an overview of income taxation of C corporations, S corporations, and partnerships and compare the benefits and drawbacks of each type of entity.

Speakers:
Professor Samuel A. Donaldson
S. Stacy Eastland
Brian C. Sparks

THURSDAY/DAY 2

Session 1: C Corporations, S Corporations and Partnerships – Planning Opportunities and Special Considerations

In this session the panel will examine planning opportunities and issues for each type of entity. The use of exchange funds, profits interests, S corporations and possible exit strategies will be discussed.

Speakers:
S. Stacy Eastland
Brian C. Sparks

Session 2: C Corporations, S Corporations and Partnerships – Strategies and Planning Techniques

This session will conclude our examination of the taxation of partnerships, C corporations and S corporations by examining planning strategies and techniques upon a member’s or shareholder’s death.

Speakers:
S. Stacy Eastland
Brian C. Sparks

Session 3: Planning for Special Assets

This session will explore the special assets, such as income in respect of a decedent (IRD), and individual retirement accounts (IRAs) and qualified retirement accounts, that play a prominent role in income taxation of individuals and trusts. The speaker will provide an overview of issues and discuss the techniques for planning for these assets through the use of trusteed IRAs, conduit trusts and accumulation trusts.

Speaker:
Edwin P. Morrow, III

Session 4: Wrap up and Q&A

In the final session the panel will summarize the highlights of the program and answer questions.

Speakers:
S. Stacy Eastland
Gregory V. Gadarian

Recorded June 26 - 27, 2019 in Vancouver, BC