CLE on The Proposed § 199A Regulations and Multiple Trust Rules: What Estate Planners Need to Know
The American Law Institute is holding a webcast / teleconference entitled, The Proposed § 199A Regulations and Multiple Trust Rules: What Estate Planners Need to Know, on Wednesday, October 17, 2018, at 12:00 p.m. – 1:30 p.m. Eastern. Provided below is a description of the event:
Why You Should Attend
In conjunction with a massive tax cut for C corporations, 2017 tax reform enacted Internal Revenue Code § 199A, providing owners of pass-through entities, such as S corporations, partnerships (including LLCs), and sole proprietorships, with a deduction of up to 20% of their qualified business income. Whether one receives the deduction and how much it is depends on a variety of factors. In addition to the law needing clarification, several commentators suggested ways to avoid limitations that reduce the deduction – ways the IRS viewed as abusive. Proposed regulations released in August fill in many details and close perceived loopholes. Join us to learn how the proposed regulations inform business structuring, when the deduction is available and when it is not, how to try to work within the rules to maximize the deduction, the effect of basis on the deduction and the government’s position on when basis step-up helps and when it does not, the desirability of shifting income to get a better result, and how the deduction works for trusts and informs our planning for them.
What You Will Learn
A faculty of highly experienced estate planners will review the basic rules for context and summarize ACTEC’s comments on the proposed regulations. They will then dive into the complexities of:
How optional aggregation can help those who have set up multiple entities for their business
How activities associated with specialized service trades or businesses can become tainted
How changes in basis may or may not affect the § 199A deduction
Planning for trusts to maximize the § 199A deduction
How the scope of the multiple trust rules under § 643(f) affects trust planning (even when the § 199A deduction is not involved)
Who Should Attend
This webcast from ALI CLE and ACTEC will benefit any estate planner, but particularly those who advise sole proprietorships, partnerships, and S corporations.
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