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One of the taxes surviving the broad recent changes to the Internal Revenue Code is the net investment income (NII) tax, or the “Obamacare Tax,” found in Section 1411 of the IRC. Since its inception, the NII tax has presented unique problems for tax practitioners from both the accounting and the legal perspective. In this webinar, we unpack the fundamentals of how the NII tax works, including references to related concepts such as distributable net income (DNI) and the passive activity rules. We then present planning techniques to help identify when taxpayers may mistakenly believe they owe the NII tax and to structure taxpayers’ affairs to legally avoid the NII tax.
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Educate the viewer about what the NII tax is and how it works.
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Educate the viewer about concepts related to the NII tax, such as DNI and passive activities.
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Make the viewer comfortable advising clients about whether they owe the NII tax in various situations.
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Show the viewer planning opportunities that may help clients legally avoid the NII tax.
Matthew E. Rappaport, Esq., LL.M.
Falcon Rappaport & Berkman PLLC
Vice Managing Partner
mer@frblaw.com
(516) 558-3377
Matthew E. Rappaport concentrates his practice in Taxation related to Real Estate, Corporations, Partnerships, and Trusts & Estates. He advises clients regarding tax planning and structuring for generational wealth transfer, commercial real estate enterprises, business transactions, and cross-border considerations. He primarily advises real estate professionals, financial professionals, and closely-held business owners. He also functions as a subcontractor for other attorneys, accountants, financial advisors, bankers, and insurance professionals when they encounter matters requiring a threshold level of tax law expertise.
Mr. Rappaport graduated from Washington University in St. Louis in 2007, cum laude, with an undergraduate degree in Political Science. His undergraduate thesis was a cross-sectional analysis of the corporate culture of the privately held financial firm Edward Jones. He received his Juris Doctor and Master of Laws in Taxation from Georgetown University Law Center in 2011. Mr. Rappaport is licensed to practice in New York. He is an active member of the Nassau County Bar Association, the New York State Bar Association, and the American Bar Association. He was the Co-Vice Chair of the Tax Committee of the Nassau County Bar Association from June 2015 until June 2016.
He serves on the Sales, Exchanges, and Basis Committee of the American Bar Association Section of Taxation. Mr. Rappaport has authored articles for the Nassau Lawyer, Thomson Reuters’ Journal of Real Estate Taxation, The Tax Adviser, Bloomberg BNA’s Tax Management – Real Estate Journal, and the Journal of Taxation of Investments. He has spoken at the request of the American Bar Association, the National Conference of CPA Practitioners, the Financial Planning Association, Strafford Publications, the School of Accounting at LIU Post, and a wide variety of law, accounting, and wealth advisory firms. He is a founder of the young professionals networking group Hydra Collective.
Michele Schlereth, CPA, Esq., MST
Schlereth Tax Group
Tax And Estate Planning Attorney, Trust & Estate Tax Accountant
michele@schtaxgroup.com
(516) 784-4272
Michele is a vlued business advisor regarding all aspects of taxation with a concentration in Trusts and Estates.
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