Members Only - How to Shift Income to Beneficiaries
Members Only Event - Complimentary for members
Topic: How to Shift Income to Beneficiaries
Speakers: Laura Duncan/Steve Gorin Thompson Coburn LLP
Time: 10-11am. (In person or virtual option)
Location: Thompson Coburn LLP - One US Bank Plaza, St. Louis, MO 63101
We will discuss whether and how to shift taxable income (including capital gains) from trusts to beneficiaries.
CPA's - CPE Credit Note: In order to be awarded the full credits, you must be responding to three out of the four polling questions asked during the program on ZOOM.
Continuing Education
EPCSTL has requested approval for continuing education in the following areas: CTFA, CLE, CPE, CFP, L&H Insurance
CPE Information for CPAs
The sponsor assures that the program content and program level is appropriate for the intended participants.
Participants will:
Learning Objectives:
You will learn:
- How tax preparers can work with other professionals to optimize tax results (10 minutes)
- What trust provisions authorize what amount of distributions (15 minutes)
- Which trustees can be authorized to make which distributions (10 minutes)
- When distributions are or are not advisable, notwithstanding tax savings (10 minutes)
- How to tax capital gains to beneficiaries instead of to trusts (15 minutes)
Speaker bios:
Steve Gorin - Steve is a nationally recognized practitioner in the areas of estate planning and the structuring of privately held businesses. Lawyers, accountants and business owners regularly look to Steve for fresh, highly knowledgeable insights into the best possible tax and estate planning approaches to their transactions.
Steve crafts estate plans for individuals, keeping in mind their financial security and desire to save income and estate tax. In his work for businesses, Steve helps owners plan for the eventual sale (to co-owners, employees, or third parties) or transfer (to family members), and provides a legal framework for an orderly transition while strategically saving income, transfer, and FICA taxes.
Drawing on his background as an accountant — and his still-current CPA license and Chartered Global Management Accountant credential — Steve structures businesses to achieve business objectives and save income or estate tax. He has helped fledgling businesses organize, thriving businesses restructure to save hundreds of thousands of dollars of income tax when planning a transition to the next ownership group, and mature multi-million or billion-dollar businesses plan tax-saving transfers to the next generation.
Over the course of his 30-year career, Steve has amassed a deep knowledge of nearly every aspect of tax strategy for privately held businesses and freely shares that knowledge with others in the field. His quarterly newsletter, "Business Succession Solutions" is considered essential reading for hundreds of CPAs and attorneys, who describe it as "a fantastic contribution to the field."
Steve is a highly visible member of the ABA's Real Property, Trust & Estate Law Section and the American College of Trust & Estate Counsel, which regularly directs its members to Steve's quarterly newsletter. He has represented both groups in comments to the IRS, the U.S. Treasury, and tax lawmakers.
Laura Duncan- Laura's practice is focused on all aspects of estate planning, including the preparation of estate planning documents, probate and tax law, tax planning and business succession planning.
In addition, Laura has experience in will and trust constructions, tax controversies, real estate and premarital agreements. She also works closely with attorneys in our litigation department on estate and trust litigation.
Laura handles the administration of estates and trusts and the preparation of estate and gift tax returns as well as fiduciary income tax returns. She also advises executors and trustees regarding fiduciary responsibilities, administration issues and tax preparation and planning.
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