Attention:
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IRS Guidance on Section 199A Deduction


Level: Intermediate
Runtime: 90 minutes
Recorded Date: September 13, 2018
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Agenda


  • Advanced IRC Sec. 199A: Small Business Deduction
  • Qualified Business Income Deduction
  • Eligible Taxpayers
  • The Basics
  • Specified Service Trade or Business
  • Partnerships & S-Corps
  • Special Rules
  • Anti-Abuse Rules
  • Termination
  • General Planning
  • Section 199A Proposed Reliance Regulations
  • Proposed Rules
Runtime: 1 hour and 30 minutes
Recorded: September 13th, 2018




Description

The IRS released guidance on the Section 199A qualified business income deduction on August 8th. Our panel will discuss the IRS guidance and planning opportunities and challenges that it creates.

This program was recorded on September 13th, 2018.

Provided By

American Bar Association
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Panelists

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Steven Gorin

Partner
Thompson Coburn LLP

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.

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.

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Audrey W. Ellis

Attorney-Advisor, Office of Tax Policy
U.S. Department of the Treasury

Audrey W. Ellis is the Attorney-Advisor at the U.S. Department of the Treasury.

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Adrienne Mikolashek

Attorney
IRS

Adrienne M. Mikolashek is an attorney in the Passthroughs and Special Industries division of the Office of Chief Counsel, Internal Revenue Service. Within Chief Counsel, Ms. Mikolashek specializes in federal income taxation of Estates & Trusts, S Corporations, and Partnerships, and certain other tax matters of general applicability to individuals and estates & trusts.

Ms. Mikolashek is the co-author of the income tax regulations under ? 1411 of the Internal Revenue Code (Net Investment Income Tax). She has spoken on the topic of the Net Investment Income Tax at several conferences and webinars for lawyers and accountants.

Ms. Mikolashek has an LL.M. (Taxation) and a certificate in Employee Benefits from Georgetown University Law Center, a J.D. from the Dickinson School of Law, and a B.A. from Mount Holyoke College.

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Robert S. Keebler

Partner
Keebler & Associates, LLP

Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA is a partner with Keebler & Associates, LLP and the current chairman of the AICPA Advanced Estate Planning Conference.

In 2007 he was inducted into the Estate Planning Hall of Fame of National Association of Estate Planners & Councils. He has also been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration.

Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and in estate, gift and income tax examinations and appeals, and he has received more than 200 favorable private letter rulings including several key rulings of “first impression”. He is the author of over 100 articles and columns and is the editor, author or co-author of many books and treatises on wealth transfer and taxation.

Mr. Keebler has been a speaker at national estate planning and tax seminars for over 20 years including the AICPA’s: Estate Planning, High Income, Advanced Financial Planning Conferences, ABA Conferences, NAPEC Conferences, The Notre Dame Estate Planning Conference and the Heckerling Estate Planning Institute.


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