This annual presentation, back by popular demand, will include updates from the last year which impact:
- Gross Income and Exclusions from Gross Income
- Deductions
- S Corporations and Partnerships
- C Corporations and Penalties
“Tax reform” has arrived, and the importance of (and the opportunities surrounding)
the management and creation of tax basis has never been greater. This presentation will discuss innovative tax basis management techniques that strip, shift, create, concentrate,
and maximize basis where it can be of most bene t to taxpayers. It will include:
- Current estate planning landscape the and importance of the “step-up” in basis
- Tax nature of assets and simple tax basis management ideas and techniques
- “Multiplying” the step-up in basis with debt, powers of appointment and upstream planning
- Contract derivatives, double step-up techniques, and eliminating valuation discounts
- Eliminating installment notes with disregarded entities and managing basis with grantors and grantor trusts
Qualified Small Business Stock (QSBS) under Section 1202 is not just for tech companies anymore. It’s time to reconsider QSBS because the new tax act has paved the way for closely-held companies to benefit “bigly.” QSBS provides an exciting array of benefits (and a surprising alternative) for owners of new and pre-existing business (large and small): 1) 100% gain exclusion on sale; 2) tax-free rollover of gains; and (3) a chance to “stack” (multiply) and “pack” the exclusion by 10 times (maybe more). While the benefits of QSBS are straightforward, the qualifications and questions surrounding QSBS planning are far from it. This presentation will discuss planning opportunities, unanswered questions, potential pitfalls, and best practices in the quest for quantum QSBS exclusions.
This presentation will introduce and discuss FLPs and LLCs generally, their planning purposes, leverage discounts, cohesive investments, and access to capital markets. Reasons for keeping or terminating FLPs or LLCs will be explored, and rules for distributing different kinds of property will b given. An overview of liquidation of assets and distribution of cash and pro rata in-kind and non-pro rate will be addressed.
This presentation will provide an overview of the qualified opportunity funds program and its benefits along with examples. The current status of the program and locations of qualified opportunity zones will be discussed. In addition, qualified opportunity fund investment structures, their comparisons, statutory requirements, and October 2018 regulatory guidance will be explained. The April 2019 regulatory guidance, estate planning opportunities and implications, and raising investor capital will also be addressed.
This presentation is a review of significant new state and local tax, incentives and economic development initiatives, focusing on Nebraska and Iowa. Significant state and local tax developments from other states will also be addressed. Updated strategies for handling state and local tax audits and appeals will be provided. There will be a look at what happened and what’s ahead for the proposed Imagine Nebraska Act and sunset of the Nebraska Advantage Act.
This presentation will show how Employee Stock Ownership Plans (ESOPs) can be used in connection with liquidity ownership succession and estate planning. ESOPs are one of the best and one of the most overlooked planning tools for private business owners. ESOPs can be used to provide creative solutions to many of the planning challenges that typically confront the successful business owner. ESOPs can be used to provide liquidity and diversification of wealth on a tax-advantaged basis. ESOPs can also be used in design of plans for dividing an estate among active and inactive children and to help preserve a family business.
In addition, ESOPs can facilitate tax effective gifts and can be used in connection with charitable trusts.
This popular 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 and miscellaneous topics
The presentation will cover a variety of ethical implications from advances in technology and how they relate to law practice. Topics to be covered include security, encryption, and blockchain for law office management as well as the acceptance of cryptocurrency as payment for legal services. The presentation will also cover issues relating to social media, particularly in the areas of advertising and trial publicity.
This presentation focuses on the latest tax law changes impacting farmers and ranchers, including the following:
- Application of the Qualified Business Income Deduction to Agriculture (rental arrangements and ag cooperatives)
- Depreciation topics
- 2018 Farm Bill and Farm Programs update
- New ag rulings and cases