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Corporate Transparency Act; L.P. Exception to Self-Employment Tax; Debt Relief

CORPORATE TRANSPARENCY ACT; L.P. EXCEPTION TO SELF-EMPLOYMENT TAX; DEBT RELIEF

Cost Free
Presentation Length 2.0 hours

Recorded DateFebruary 12, 2024
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelAdvanced
Course Description

This webinar explores recent developments in tax law, focusing on the reporting of trusts and estates under the Corporate Transparency Act, the limited partner exception to self-employment tax, using grouping rules to avoid net investment income tax, and understanding the tax implications of debt relief and partnership transfers.

The material covers the Corporate Transparency Act provisions as they relate to trusts and estates, strategies for using the limited partner exception to self-employment tax, using grouping rules to minimize net investment income tax, recognizing when debt relief triggers income tax consequences, and planning to minimize tax implications when transferring partnership interests. Join Steve Gorin, CGMA, CPA, J.D., from Thompson Coburn LLP, for an in-depth discussion on these critical tax topics.

Learning Objectives: 


  • Explore the Corporate Transparency Act provisions as they relate to trusts and estates

  • Identify strategies for using the limited partner exception to self-employment tax while avoiding net investment income tax

  • Determine the tax implications of debt relief, including partnership transfers

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Thompson coburn llp

Steve has drafted trusts and a full range of estate planning documents for clients to help grow, preserve, and transmit their family wealth. He has also prepared organizational documents for limited liability companies, corporations, and partnerships to implement their owners' wishes regarding current and future control and transmission, including bringing in new owners and facilitating exit strategies. 

Steve enjoys helping clients structure their affairs to achieve their personal, business, and financial goals while reducing the drag that taxes imposed on them. His firm provides full service to businesses; however, he also acts as counsel on specialized matters while cooperating and facilitating the continued involvement of an existing legal, accounting, and financial services team. Steve maintains his CPA license but prefers to refer income tax returns to practicing CPAs.


Steve Gorin is the former president and an ongoing contributor to Covenant Place’s strategic initiatives. It is a senior affordable housing community with a groundbreaking model for integrated residents with the surrounding community and facilitating holistic services to enrich their lives. 

 

To know more about Steve Gorin, kindly click on the link below:

http://thompsoncoburn.com/people/steve-gorin

 

For various free resources Steve offers, see https://www.thompsoncoburn.com/insights/blogs/business-succession-solutions/about

 

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About Our Presenter

Thompson coburn llp

For approximately 90 years, Thompson Coburn LLP has provided the quality legal services and counsel our clients demand to achieve their most critical business goals. Whether helping with a tax, estate planning, real estate or employment issue, navigating a complex acquisition or defending a product or service in litigation, we have the knowledge and resources to meet any legal need.


With over 380 attorneys, we have experience in more than 50 areas of the law. Supported by our firm's state-of-the-art technology, lawyers in our Chicago, Dallas, New York, Los Angeles, Southern Illinois, St. Louis and Washington, D.C. offices enjoy a nationwide practice.