Basis Step-Up Strategies in Light of Portability and Tax Law Changes Registration Includes INSTANT DELIVERY of “Structuring Ownership of Privately-Owned Businesses: Tax and Estate Planning Implications,” a 2500+ page PDF
In his exclusive LISI Webinar, Steve Gorin will review a variety of basis step-up strategies, including tools to allow couples in common law states to get community property benefits, modifying irrevocable trusts to make them includible in the primary beneficiary’s, or selling assets from an irrevocable trust (income tax-free) to the grantor (the reverse of a sale to an irrevocable grantor trust).
Registration includes INSTANT DELIVERY of not only slides but a complete copy of “Structuring Ownership of Privately-Owned Businesses: Tax and Estate Planning Implications,” a 2500+ page PDF that includes at least 65 pages relevant to this webinar. Registrants may choose to receive quarterly the most recent version of the PDF
Materials include details on drafting a power of appointment for basis step-up that avoids basis step-down and avoids estate tax (to the extent possible), with an oral discussion of risks of using such a formula. Steve will also discuss how portability plays into basis step-up planning and how those with small, medium and large estates may benefit.
Steve will cover the following topics and more in his 90-minute, content packed webinar:
- QTIP Trusts & the §2519 Trap
- Partnership Basis Shifting Opportunities & Partnership Basis Adjustments
- Basis Step-Up for Property Held Outside an Entity: Moving Liabilities Outside of an Entity to Maximize Deductions for Estate Tax Purposes
- Avoiding a Basis Step-Down
- Effect of Chapter 14 on Basis Step-Up
- Taxable Termination vs. General Power of Appointment vs. Delaware Tax Trap
- General powers of appointment and Estate of Kurz v. Commissioner
- Depreciable Real Estate in an S Corporation & sales to third parties
- Leveraged Transaction and the Preferred Partnership strategy
- Real estate equity strips
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.
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Steve crafts estate plans for individuals, keeping in mind their financial security and desire to save income and estate tax. In his work for businesses, Steve helps owners plan for the eventual sale (to co-owners, employees, or third parties)or transfer (to family members), and provides a legal framework for an orderly transition while strategically saving income, transfer, and FICA taxes.
Drawing on his background as an accountant — and his still-current CPA license and Chartered Global Management Accountant credential — Steve structures businesses to achieve business objectives and save income or estate tax. He has helped fledgling businesses organize, thriving businesses restructure to save hundreds of thousands of dollars of income tax when planning a transition to the next ownership group, and mature multi-million or billion-dollar businesses plan tax-saving transfers to the next generation.
Over the course of his 30-year career, Steve has amassed a deep knowledge of nearly every aspect of tax strategy for privately held businesses and freely shares that knowledge with others in the field. His quarterly newsletter, Business Succession Solutions," is considered essential reading for hundreds of CPAs and attorneys, who describe it as "a fantastic contribution to the field." Steve also maintains a blog, Business Succession Solutions, intended to help business owners — and those who advise or support them — consider smart tax strategies.
Steve is a highly visible member of the ABA's Real Property, Trust & Estate Law Section and the American College of Trust & Estate Counsel, which regularly directs its members to Steve's quarterly newsletter. He has represented both groups in comments to the IRS, the U.S. Treasury, and tax lawmakers.