BarbriSFCourseDetails
  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Tax Preparer
  • schedule 110 minutes

Estate Planning for Flow-Through Entities: Minimizing Taxes for Partners, Shareholders, and Beneficiaries

$197.00

This course is $0 with these passes:

CPE
ALL
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Description

Estates with flow-through entities require additional forethought and planning. Partnership interests can be either active or passive, depending on the partner's level of participation. The decedent's level of involvement may have been active; however, after death, the determination could be based on the fiduciary's participation.

Subchapter S corporation stock can only be held by qualifying shareholders. Nonresidents, individual retirement accounts, and foreign trusts, for example, are not qualified. Transfers of S corporation stock to an ineligible shareholder could jeopardize the entity's S-election and subject the owners to unnecessary tax. Fortunately, certain trusts and estates are allowed to hold S corporation stock for a limited period. Eligible trusts may decide to elect to be a QSST, qualified subchapter S trust, or an ESBT, electing small business trust, to hold the stock past this period.

Lifetime transfers and other planning strategies can avoid unanticipated tax consequences for flow-through entities. Avoiding potential tax traps for taxpayers holding business interests is critical for tax advisers working with taxpayers owning partnerships and S corporations.

Listen as our panel of trust and estate experts offers planning strategies for owners of flow-through entities to reduce taxes paid by investors and their heirs.

Presented By

Andrew L. Gradman
Of Counsel
Falcon Rappaport & Berkman LLP

Mr. Gradman is Of Counsel in FRB’s Taxation Practice Group. He advises clients on a wide range of federal and international tax matters, including deferral and characterization of income; partnership taxation; corporate taxation; and Opportunity Zones. Mr. Gradman frequently represents closely held family businesses, real estate developers, and cannabis clients. He also has extensive experience in estate and gift tax planning.

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Matthew E. Rappaport
Vice Managing Partner
Falcon Rappaport & Berkman LLP

Mr. Rappaport chairs FRB’s Taxation and Private Client Groups. He concentrates his practice in Taxation as it relates to Real Estate, Closely Held Businesses, Private Equity Funds, Family Offices and Trusts & Estates. He advises clients regarding tax planning, structuring, and compliance for commercial real estate projects, all stages of the business life cycle, generational wealth transfer, family business succession, and executive compensation. Mr. Rappaport also collaborates with other attorneys, accountants, financial advisors, bankers, and insurance professionals when they encounter matters requiring a threshold level of tax law expertise. He is known for his work on complex deals involving advanced tax considerations, such as Section 1031 Exchanges, the Qualified Opportunity Zone Program, Freeze Partnerships, Private Equity Mergers & Acquisitions, and Qualified Small Business Stock. Mr. Rappaport has served as a trusted advisor for prominent real estate funds, executives of multinational corporations, venture capitalists, successful startup businesses, ultra-high net worth families, and clients seeking creative solutions to seemingly intractable problems requiring tax-focused analysis. 

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Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

Date + Time

  • event

    Wednesday, July 26, 2023

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Estate planning for flow-through entities: introduction
  2. Partnerships
  3. S corporations
  4. Gifting strategies
  5. Other planning techniques

The panel will cover these and other key issues:

  • When should a trust consider an election to be a QSST?
  • How the level of participation is determined for an LLC interest held by a trust
  • Succession planning for pass-through entities
  • Which shareholders might benefit from gifting their interest in an S corporation?

Learning Objectives

After completing this course, you will be able to:

  • Identify estate planning techniques for closely-held businesses
  • Determine which clients should consider gifting their interest in a partnership or LLC
  • Decide how long qualifying trusts can hold S corporation stock without endangering its S status
  • Ascertain the differences between a QSST and an ESBT election
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of estate, gift and trust taxation including various trusts types, the unified credit, and portability.

BARBRI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Strafford-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .