This trifecta of topics, drawn from Steve Gorin’s 3rd quarter 2020 newsletter, is designed for advising clients contemplating large taxable gifts. “When a Gift Is Subject to Income Tax” explains when gifts trigger income tax, including some traps when transferring business interests.
“Beneficiary Deemed-Owned Trusts” provides an overview of irrevocable trusts where the beneficiary is deemed the owner and includes BDITs and BDOTs.
“Making Large Taxable Gifts” describes which gifts might not achieve their intended objectives if certain anti-abuse regulations are adopted and which are not subject to that risk, points out long-term consequences of using one’s entire exemption now, and reviews the interaction of these tools with basis step-up issues.
This webinar is approved for 1.8 hours general CLE credit in Missouri and 1.5 hours general CLE credit in California and Illinois. 1.5 hours general CLE credit in Texas is pending.
Please note that this is a 90-minute webinar
Steve's current materials, Structuring Ownership of Privately-Owned Businesses: Tax and Estate Planning Implications, are available by emailing email@example.com.
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