St. Louis, MO: Code § 199A Final Safe Harbor for Rental Real Estate; Partnership Structural Issues

Oct 29, 2019 11:30am -
Oct 29, 2019 01:30pm

Event Description

 

The Missouri Chapter of the American Academy of Attorney-CPAs invites you to:

 

Code § 199A Final Safe Harbor for Rental Real Estate; Partnership Structural Issues; Sale of Intangible Assets

 

Tuesday, October 29, 2019

11:30 a.m. - 2:00 p.m.

 

Speaker:

Steven B. Gorin

Thompson Coburn LLP

Program Description

The IRS issued a long-awaited safe harbor for when real estate rental qualifies as a trade or business for purposes of the 20% deduction for qualified business income under IRC § 199A.  We will review the rules for rental under Code § 199A and explain how the new safe harbor fits into the framework.  We will explore a smattering of recent developments in partnership tax, such as final regulations discussing employee vs. partner in tiered structures, the nature of interest expense when a partnership interest changes hands, and the effect of changes on inside basis when an interest in a tiered structure changes hands.  Finally, we will discuss the income taxation of intellectual property and other intangibles in light of 2017 tax reform.

 

Learning Objectives

You will learn:

  • Strategy for qualifying real estate rental as a trade or business under IRC § 199A independent of the safe harbor.
  • How the new safe harbor for real estate changed from its proposed terms and the extent to which the safe harbor helps.
  • How recently finalized regulations treat compensatory payments from disregarded entities to partners in the parent partnership.
  • What those regulations intentionally did not address that provide opportunities for tiered partnership structures.
  • How to determine the deductibility of interest expense incurred by a partnership and how distributions from a partnership affect that determination.
  • A taxpayer victory regarding how that determination changes when a partnership interest changes hands.
  • How inside basis adjustments flow inside tiered partnerships.
  • A new TAM that may expand the types of transfers that can trigger inside basis adjustments.
  • How 2017 tax law changes curtailed favorable treatment on the sale of intellectual property.
  • How the treatment of goodwill, etc. differs from the above treatment, which may inform strategies for allocating purchase price or structuring a purchase.

About the Speaker

 

Steven B. Gorin

Steve is a nationally recognized practitioner in the areas of estate planning and the structuring of privately held businesses. Lawyers, accountants and business owners regularly look to Steve for fresh, highly knowledgeable insights into the best possible tax and estate planning approaches to their transactions.

 

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.

 

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.

 

Click here to read Steve's full biography. 

Date & Time

Tuesday, October 29, 2019

11:30 a.m. - Registration and Lunch

12:00 p.m. - 1:30 p.m. -  Program

1:30 p.m. - 2:00 p.m. - Questions and Networking

 

Location

Thompson Coburn, One US Bank Plaza, St. Louis, MO 63101

 

Education

1.0 credit of Continuing Professional Education (CPE) for Certified Public Accountants (CPA) in Business Law; 1.2 MCLE credit is pending approval with The Missouri Bar. 

 

Prerequisites: None

Advanced Preparation: None

Program Level: Update

Delivery Methods: Group-Live

 

Admission

$10.00 AAA-CPA Members; $20.00 Non-Members and Guests. Lunch provided. 

 

Who Should Attend: Attorneys, Certified Public Accountants, Business Professionals

Registration

Registration is appreciated by Friday, October 25, 2019. 

The American Academy of Attorney-Certified Public Accountants, Inc. (AAA-CPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasba.org

 
 
 

 

 

 


Event Type:Chapter Meeting
Early registration ends on Sep 29, 2019.
Regular registration starts on Sep 30, 2019 and ends on Oct 28, 2019.
Late registration starts on Oct 29, 2019.

 

Registration Fees
Fee TypeEarlyRegularLate
 AAA-CPA Member and Affilaite
Member Fee: $10.00$10.00$10.00
Non-Member Fee: $20.00$20.00$20.00