What we know and still don't know following the IRS' recent releases of guidance and proposed regulations.
As we hit the home stretch in 2018, the IRS has clarified several vague provisions and concepts underlying new code section 199A. While there are still unresolved issues, tax advisors now have better guidance on how section 199A is to be applied. That said, 199A remains complex and challenging to manage.
This seminar will walk through the 199A decision tree and explain where and how the IRS has offered clarification under the proposed regulations and notices issued in early August. We will discuss the anti-abuse provisions issued by the IRS and answer questions about choice of entity and best practices for compliance with 199A.
Following the discussion of 199A, we will turn to how trusts owning pass-through businesses can be optimized and conclude with some ideas on gift and business succession planning and business valuation in light of tax reform.
Registration/Networking - 7:30 a.m.
Program - 8:00 to 9:00 a.m.
This event is being offered as a free education session.
300 TradeCenter, Suite 7600
Woburn, MA 01801
About the Presenters
Steve is a shareholder and director of the firm where he has been a member of its Tax, Trusts & Estates and Corporate Departments for over 25 years. Using his expertise as a licensed CPA as well as an attorney, Steve advises high net worth individuals, families and fiduciaries on estate and income tax planning and administration, and wealth preservation strategies. Steve also serves as Trustee of many significant family trusts; working closely with beneficiaries, family offices, and advisors regarding fiduciary, legal, tax and trust administration issues.
Steve also serves as counsel for the boards of significant charitable, educational and tax-exempt institutions, offering advice on fiduciary, governance and tax matters. He represents individuals and businesses before the IRS as well as the New Hampshire and Massachusetts Department of Revenue agencies and has assisted clients in obtaining administrative rulings from those taxing authorities. He has also served as counsel in all aspects of ESOP transactions including representing companies, fiduciaries, and sellers in ESOP-related matters. Steve also advises business owners on entity creation, governance, business succession, and transaction structuring issues.
Audrey Young is Of Counsel with the Trusts & Estates Group at McLane Middleton. She concentrates her practice on estate planning, representing business owners, family offices and corporate fiduciaries. She counsels business owners on tax, retirement and succession planning as well as trust and estate administration. Audrey also works with foundations and other charitable organizations on tax and administration matters. Audrey formerly worked as the Washington National Tax Director for private client services at an international accounting firm and at an AM 100 law firm.
A frequent lecturer and author on a variety of estate planning and trust administration topics, Audrey has spoken at dozens of estate planning and tax conferences and seminars. Her articles have appeared in several estate planning magazines and tax journals. One of her articles was cited by the United States Supreme Court in 2014.