Welcome, Announcements, Recognition of Scholarship Recipients
Presenter(s): Prof. Edward A. Morse

This popular annual presentation will include updates from the last year that impact:

  • Gross Income
  • Gross Income and Exclusions from Gross Income n Deductions
  • Tax Procedure
  • S Corporations and Partnerships
  • C Corporations; Legislation
Presenter(s): Steven B. Gorin

This keynote presentation will address the following issues:

  • Type of entity and its annual income tax burden in various distribution scenarios
  • Effect of entity on long-term extraction of fund from the entity and the ability to engage in estate planning strategies
  • Brief overview of Code § 199A deduction
  • Converting from S Corporation to C Corporation
  • Taxation of sale of business varying by type of entity
  • Recommended short-term and long-term structure and why
Lunch Break
Presenter(s): Steven B. Gorin
  • Who can stretch and for how long?
  • Accumulation trusts
  • Conduit trusts
  • Various helpful clauses
Presenter(s): Timothy L. Moll

The popular annual update 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
Presenter(s): Steven B. Gorin

This non-credit session will 1) describe which gifts might not achieve their intended objectives if certain anti-abuse regulations are adopted and which are not subject to that risk, 2) point out long-term consequences of using one’s entire exemption now, and 3) review the interaction of these tools with basis step-up issues.

The following will be discussed:

  • Effect of large taxable gifts on estate tax calculation and possible disallowance of that planning for certain arrangements
  • Using preferred partnership that intentionally violates Code § 2701
  • Grantor retained income trusts (GRITs)
  • Triggering Code § 2519 in QTIPs
  • Spousal limited access trusts (SLATs)
  • Basis step-up issues regarding the above ideas
  • Planning for future transfers to family once lifetime gift/estate tax exemption is used up
Presenter(s): Nicholas K. Niemann
  • A review of significant new State Tax, Incentives and Economic Developments measures, focusing on Nebraska and Iowa
  • What happened and what’s ahead for the Imagine Nebraska Act
  • Updated strategies for handling state tax audits, refund claims and appeals and property tax appeals
  • Significant State and Local Tax and Incentive developments from other states
Presenter(s): Jeremy S. Wortman, Ph.D.

This session begins with an update on the current ethical and unethical activity taking place across the country. The presentation then focuses on personal character development, the most important element of ethical decision making. It looks at how the decision-making process takes place inside the human brain and provides four leadership behaviors that lead to ethical behavior. Finally, the session explores how crisis in influences the heightened need for effective ethical leadership and identifies what is needed from followers in such ambiguous and emotionally charged time while still planning for the future. Participants will take away specific tactics that assist them in examining the individual’s moral compass and leadership legacy while synthesizing them with professional goals and expectations.

Lunch Break
Presenter(s): Prof. Roger A. McEowen

Professor McEowen provides his popular update for those whose clients are farmers and ranchers. First, he will take you through changes in legislative and caselaw, then he will move into discussion of the following:

  • Financial Distress Tax Issues
  • Like-Kind Exchange Issues
  • I.R.C. §199A Lingering Issues and Update
  • Farm Program Payment Limitation Planning and Tax Issues