4:00 – 4:30 pm EDT Registration and networking
4:30 – 6:00 pm EDT Program
6:00 – 7:30 pm EDT Reception
To download the presentation, please click here.
It is imperative that private equity principals plan ahead for the estate, gift and income tax changes that are available to them in 2012, but that may expire at the end of the year. For instance, an individual may be able to give away $5.12 million worth of assets without any gift tax exposure in 2012, but after that the exemptions that make this possible are scheduled to significantly decrease. Additionally, the income tax provisions that are scheduled to expire or change this year require pre-2013 planning. Given the uncertainty of the political and tax landscape, it is imperative that the wealthiest Americans educate themselves on these changes and plan accordingly to minimize the amount of tax they pay when the Bush tax cuts expire.
Please join private equity leaders from McDermott Will & Emery and WTAS at a complimentary seminar that will provide tax accounting and tax law perspectives on the most important estate, gift and income tax issues that owners and promoters of private equity firms should be focused on.
Topics to be covered include:
- Estate and Gift Tax Planning
- The three federal transfer taxes—estate, gift and generation-skipping—in the context of private equity firms
- Common approaches to planning and the costs of not planning
- The vertical slice rule and how it can be used to minimize the gift tax risk under Section 2701 of the Internal Revenue Code
- Incomplete gift risk for transfers of unvested interests
- Management fee offset arrangements and how to protect them from gift tax risk
- Investment control without estate tax risk
- Income Tax Planning
- Legislative update–What happens if Bush tax cuts expire?
- Planning in 2012, including leveraged recapitalizations, taxable debentures and other tax minimization techniques
- Income tax risk of transferring carried interests
- Update on self-employment tax for LLC members
- Application of the new Medicare tax and its affect on fund managers
- State and local tax issues
- Guidance on navigating the “Non-Resident” audit
Marilyn Calister, Managing Director, WTAS
Amy Heller, Partner, McDermott Will & Emery
Richard Jahn, Managing Director, WTAS
Elyse Kirschner, Partner, McDemott Will & Emery
Jay Rivlin, Partner, McDermott Will & Emery
Joe Toce, Managing Director, WTAS
Please provide questions for the speakers in advance by sending an e-mail to Carolyn Verscaj.
MCLE credit is pending in California, Illinois, New York and Texas. A Uniform Certificate of Attendance will be made available to participants requesting MCLE credit in all other states. CPE credit is pending in Illinois and California. A Uniform Certificate of Completion will be made available to participants requesting CPE credit in all other states.