New partnership audit rules require a fresh look at the process of selling a partnership interest and partners’ relationships when an audit occurs. Separately, tax reform provides new income tax planning opportunities for using trusts to hold business entities. Finally, a recent case involving family offices sheds some light on avoiding the disallowance of investment management fees.
In this webinar, the presenter will discuss:
- How the new partnership audit rules work, whether they are a benefit or a burden, and issues to consider when drafting partnership sale agreements or operating agreements.
- Why using trusts to hold business interests can save income tax and what additional issues using trusts raises.
- How a family was able to save taxes by the way it structured its investment management and how to use business entities to save tax on investments even if one cannot replicate their situation.
CLE The live presentation of this webinar was approved for 1.5 hours general CLE credit in California and Illinois and 1.8 hours general CLE credit in Missouri. The recording of this webinar is eligible for 1.5 hours of general CLE credit in Illinois. To receive credit after watching this recording, please complete and submit the verification form.
*Please note that this is a 90-minute presentation