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Program Description
The presenters will discuss tax-savings tools that can be used between now and March 6 when preparing 2016 returns. The presenters will provide a top-ten list of planning tips to help attendees save income tax going forward - tips that can help not only CPAs but also lawyers involved in drafting or trust administration. Attendees will be watching this program via webinar and at the conclusion the presenters will provide additional thoughts and answer questions (in-person).
Learning Objectives
Learn key income tax issues in administering and drafting trusts, including:
- The advisability of making distributions
- How to make distributions carry out capital gain to beneficiaries
- Ways to shift income and capital gain to beneficiaries without making distributions
- The importance of state income tax
- Strategies in drafting documents to maximize flexibility
About the Speakers
Laura's practice is focused on all aspects of estate planning, including the preparation of estate planning documents, probate and tax law, tax planning and business succession planning. In addition, Laura has experience in will and trust constructions, tax controversies, real estate and premarital agreements. She also works closely with attorneys in our litigation department on estate and trust litigation. Laura handles the administration of estates and trusts and the preparation of estate and gift tax returns as well as fiduciary income tax returns. She also advises executors and trustees regarding fiduciary responsibilities, administration issues, and tax preparation and planning. Click here to read Laura's full biography.
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.
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