Georgia Senate Election Results – Deep Dive - Part One and Part Two Bundle - Income Tax Planning and Estate Planning to do Now! - INSTANT DELIVERY

Georgia Senate Election Results – Deep Dive - Part 1 of 2 - Income Tax Planning
The “Blue Wave” along with the fiscal stimulus from Congress both will have tremendous implications for your clients given the likelihood for significant income tax changes directed towards wealthy Americans. We have received a number of requests from the people that took the Georgia Senate Results class to do a deep dive into the Income Tax Planning in 2021. This class will focus on the income tax planning side of the Georgia Senate Election results.
Whether, you’re a financial advisor, CPA or attorney, clients will be looking to you for the best income tax planning strategies.

This session will provide, ideas, tip and tools to minimize your client’s tax liabilities. The program will cover the following and much more:

  • Charitable Remainder Annuity Trusts
  • Charitable Remainder Unitrusts
  • Arms-length §453 Installment Sales
  • Related Party Installment Sales
  • Income Smoothing Strategies
  • Income Shifting Strategies
  • Strategies to Reduce Taxable Income
  • Advanced Roth Conversions
  • Opportunity Zones to more Effectively Manage Capital Gains
  • Using 1031 Exchanges to Ease Capital Gains
  • The Use of Collars, Variable Forward Sales and Options to Manage Capital Gains
  • IRC § 1259 Collars to Trigger Capital Gains in 2021 or Defer to a Future Date
  • “Short Against the Box” Strategies to Choose Between Recognizing Gains in 2021 or 2022
  • Substantial Sale Charitable Remainder Trusts (CRTs)
  • Income Shifting CRTs
  • Family Limited Partnerships (FLPs) to Shift Income
  • Intra-Family Loans
  • Qualified Small Business Stock – IRC § 1202 and Expanding the Exemption with Gifts to Non-Grantor Trusts
    • And Much, Much More!

    Georgia Senate Election Results – Deep Dive - Part 2 of 2 -Estate Planning

    GA Runoff Elections Concluded: Estate Planning to do NOW, A Deep Dive 2 hour presentation

    Estate planning is likely to change dramatically with a Biden Administration now having control of the House, Senate and White House. Practitioners need be prepared...not later this year, not later this month, but NOW.  Although we cannot know what will be proposed by the Biden Administration, or what will ultimately be enacted, there is much to consider. It is likely that Biden administration tax proposals can be enacted under a Budget Reconciliation Act, which cannot be filibustered. This webinar will discuss what the most likely and most consequential tax proposals are likely to be, and how you can help practitioners can help their clients prepare for them now. 

    The webinar will cover likely estate tax changes including a reduction in the exemptions (possibly to $5 million or $3.5 million or even less), a limit on the aggregate benefit of the annual exclusion gifts, a modest increase in rates, GRAT and grantor trust restrictions, and perhaps of greatest consequence the elimination of the tax free step up in basis. 

    We will discuss ways to plan now but with some options to address various possible tax legislation outcomes.

    One of the most significant issues to address in 2021 planning is the possibility of retroactive tax changes. How can you guide clients to structure early 2021 gift transfers but reduce or avoid the risk of a gift tax if there is a retroactive change? This is something that never has had to be addressed in planning before, but which may be a unique nuance to 2021 planning. Various options will be explored and explained in detail and sample language presented.

    A number of estate planning techniques will be discussed in some detail in the specific context of how and why they may be applied in early 2021 including: SLATs, SPATs, DAPTs, hybrid DAPTs, note sales, GRATs and other techniques. Sample language and drafting and planning recommendations will be presented for each technique. The implication of various tax doctrines on these techniques such as the reciprocal trust doctrine, the step transaction doctrine, etc. will be reviewed.

    A Biden Administration may repeal the step up in basis on death or might enact a capital gains tax on death. Marginal income tax rates may be increased, and other significant income tax changes may be enacted. While the focus of this program will be a detailed and practical discussion of estate planning in the current environment, comments will be offered throughout as to how possible (likely?) income tax changes may effect the estate planning techniques discussed.

    Finally, practical suggestions and comments will be offered on suggesting these planning ideas to clients, and steps practitioners can take throughout the 2021 planning process to protect themselves from potential problems.

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