FLASH: LISI's Tax Reform Bill Update & New Passthrough Income Taxation: Statutory Review & Short-Term/Urgent and Longer-Term Planning

 

 

Join Bob Keebler, CPA/PFS, MST, AEP on Friday December 8^th @ 3pm ET for his special “2-for-1” LISI webinar focused on the Tax Cuts and Jobs Act. In Part 1, Bob will explore the critical aspects of the Tax Cuts and Jobs Act. In Part 2, Bob will review how the new passthrough income taxation rules work. As the passage of the tax bill draws nearer, this is a “must see” webinar series for all practitioners.

 

Part 1: Critical Aspects of the Tax Cuts and Jobs Act

 

1. An Overview of the Individual Tax Changes including SALT, Charitable, AMT and the New fourth Loss Limitation Provisions
2. Massive Changes to Drafting, Planning and the Administration of Estates Including Doubling the Exemption
3. Immediate Considerations When Choosing a Fiscal Year for Estates and Trusts Including Rates and Pass-Through Issues
4. Urgent Planning for the New FIFO Securities Rule Including CRTs, CLTs, NINGs, Nongrantor Trusts and Partnerships
5. December 31, 2017 Changes to Roth Recharacterization Provisions and Roth Conversions After Tax Reform
6. The Complete Overhaul and Repeal of Most Itemized Deductions and Time Sensitive 2017 Year-End Planning
7. Reduction in the Corporate Tax Rate and Likely Strategic and Tactical Opportunities
8. The Separation of Pass-Through  Business Income From The Traditional Ordinary Income Approach
9. A Mathematical Comparison of C-Corp and Pass-Through Taxation After Tax Return
10. The Adverse Impact of the Pass-Through Provisions on Trusts and Estates and Urgent Planning
11. The Application of the Lower Pass-Through Rate to Real Estate and Planning Considerations
12. Expansion of Both Bonus Depreciation and the Section 179 Deduction
13. Expansion and Changes to ESBT Provisions
14. Top Ten Year End Planning Issues
15. ACTION STEPs for CPAs
16. ACTION STEPs for Financial Planners
17. ACTION STEPs for Estate and Trust lawyers

 

Part 2: A Detailed Look at How the Rules for the Deduction for Qualified Business Income of Pass-Thru Entities Work

 

1. A Policy Perspective – What is Congress Hoping to Achieve
2. Extremely Adverse Impact on Estate and Trusts and Related Planning
3. Understanding the Four Types of Taxpayers:
   1. Specified Service Businesses with Taxable Income Under $500,000
   2. Specified Service Businesses with Taxable Income Over $500,000 and the Dangerous Cliff Phaseout
   3. NonService Businesses with Taxable Income Under $500,000
   4. NonService Businesses with Taxable Income Over $500,000
4. What is a Specified Service Business?
5. What is the Cliff Phaseout and What Strategies Exist?
6. Understanding The $500,000 Cliff Where a $100,000 of Additional Gross Income Causes $215,000 of Taxable Income
7. What is Combined Qualified Business Income?
8. Understanding the 50% Wage Limitation
9. Planning for Income Between the Phaseout Limitations – A critical 2017 and 2018 Concept
10. Treatment of Carryover Losses
11. Extremely Adverse Impact on Estate and Trusts and Related Planning
12. The Impact of the Pass-Thru Deduction on Prior Year Losses
13. Treatment of Real Estate Income and The 50%  Wage Limitation
14. The Impact of Reasonable Compensation and Guaranteed Payments
15. The Impact on Qualified REIT Income
16. Relationship to the Net Investment Income Tax
17. Changes in the Accuracy-Related Penalty

 

There will be no CE for this webinar


For those who have a conflict with the date/time, The session will be recorded. Simply register and you will have unlimited access to the recording.

Although they are scheduled for a particular time and date - once purchased - they can be viewed at ANY TIME!.