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Netinvestmentincometax rappaport

A DEEP DIVE INTO THE NET INVESTMENT INCOME TAX

Cost Free   CPE Credits 2.0 hours     2 hours for EAs (Federal Tax Update)    Course Id# - HURS9-U-00263-18-O  Subject Area Taxes  Course Level Basic  Instructional Method Group Internet Based  Prerequisites None  Advanced Preparation None  Who should attend? CPA - small firm
CPA - medium firm
CPA - large firm
Enrolled Agent
Other 
Series: Enrolled Agents, Taxes 
Course Description

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.

Learning Objectives

  • Educate the viewer about what the NII tax is and how it works.

  • Educate the viewer about concepts related to the NII tax, such as DNI and passive activities.

  • Make the viewer comfortable advising clients about whether they owe the NII tax in various situations.

  • Show the viewer planning opportunities that may help clients legally avoid the NII tax.

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Matthew Rappaport

Matthew E. Rappaport, Esq., LL.M
Tax Planning and Structuring Attorney
mer@merlawfirm.com
(516) 558-3377

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Matthew E. Rappaport concentrates his practice in Taxation as it relates 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 like 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 and 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.

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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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Frequently Asked Questions
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  • CPE is available to all eligible participants within 24 hours of each webinar.
  • Multiple attendees: In order to receive CPE for multiple attendees, ensure that at least one person signs up for the webinar. At the completion of the webinar a proctor form is provided. Alternatively, you may also login to your account following the webinar and click on the MY ACCOUNT button where you will find a link to the proctor letter.

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CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

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