7:30 AM to 8:15 AM
8:15 AM to 9:45 AM
This presentation will focus on a wide variety of detailed gift, estate, and income tax issues that may arise for the settlor of a trust, or a trust beneficiary, with respect to the selection of a trustee and that trustee’s powers. Mr. Akers will address both dispositive powers and administrative powers that may be held by a settlor or beneficiary as trustee without causing a tax disaster. Mr. Akers will also review non-tax factors in trustee selection.
9:45 AM to 10:00 AM
10:00 AM to 11:30 AM
Post-mortem planning creates both income tax opportunities and traps. Mr. Akers will review key income tax issues in such planning, including the decedent’s final income tax return, various elections for the fiduciary income tax return, and various funding issues. Gift and estate tax issues will also be explored, including valuation, marital deduction planning, alternative for paying the estate tax, and disclaimer planning.
11:30 AM to 12:30 PM
12:30 PM to 1:30 PM
Mr. Moll’s annual presentation will review legislative, regulatory, and case developments in:
- Gross Estate Calculations and Estate Tax Deductions
- Estate and Gift Tax Valuation
- Lifetime Gifts
- Retirement Plan Assets, Tax Collection Activity and Miscellaneous Topics
1:30 PM to 2:30 PM
Ms. Loomis-Price will help attendees to understand the IRS’s broad summons power, whose communications are privileged, and how to preserve all privileges, including attorney/client privilege. Ms. Loomis-Price will also address:
- What is privilege and what privilege may not cover
- The attorney as tax preparer
- Attorney work product doctrine (definition, purpose, types), medical privileges,
- and the tax practitioner privilege (§7525 exceptions, warning)
- Privileges and appraisers
- The effect of asserting privilege on burden of proof
2:30 PM to 2:45 PM
2:45 PM to 4:00 PM
Ms. Loomis-Price and Mr. Liss will provide a brief overview of the different forms a business can take (sole proprietorship, partnership, S Corporation, C Corporation). They will address C Corporation Taxation and TCJA changes to C Corporation taxation. Further- more, they will provide a review of S Corporation and Partnership Taxation and a review of the TCJA changes to pass through entities, particularly under Section 199A.
4:00 PM to 4:45 PM
Ms. Loomis-Price’s discussion will include:
- A review of issues that may arise for gift and estate tax purposes
- Consideration of the appropriateness of a partnership for family businesses
- Practical issues in the formation of a partnership
- The necessary steps needed to maintain a partnership
8:00 AM to 9:30 AM
Mr. Morse’s annual presentation, back by popular demand, will include updates from the last year which impact:
- Gross Income and Timing Issues
- Popular Deductions and Credits
- Procedure and Administration
- Corporate and Partnership Tax
- An Overview of the 2017 Tax Act
9:30 AM to 9:45 AM
9:45 AM to 11:00 AM
The panel will discuss recent developments under Section 355, including the IRS ruling practice and recent administrative pronouncements and rulings.
11:00 AM to 12:00 PM
Ms. Near’s presentation will examine the following topics that will impact professionals of all types:
- Why does organizational wrongdoing occur and how does it affect whistle-blowing?
- Where does whistle-blowing happen?
- Who blows the whistle and when do they do so?
- When and why do whistle-blowers suffer reprisal?
12:00 PM to 1:00 PM
1:00 PM to 2:30 PM
Mr. Niemann’s presentation is a long-running staple of the Institute and will include:
- A review of significant economic development measures, focusing on Nebraska and Iowa
- The U.S. Supreme Court decision in Wayfair v. South Dakota and its implications for businesses
- Updates on Nebraska and Iowa taxes and incentives
- Significant state and local tax updates from other states
2:30 PM to 2:45 PM
2:45 PM to 4:00 PM
Mr. Neiffer’s presentation will focus on the latest tax law changes impacting farmers, including the following:
- An overview of individual changes affecting farmers
- The new Section 199A and its impact on agriculture
- Cost recovery and 1031 Exchanges
- Accounting methods that change planning for farmers
4:00 PM to 5:00 PM
Our final session will provide an overview of Section 199A legislative changes enacted by the Tax Cuts and Jobs Act (TCJA) of 2017, to include:
- Examples of the eligible deduction for combined qualified business income and discussion on the limitations that apply to the deduction
- Review of Section 199A