This class will enable attorneys to deal with the implications of the 2017 Tax Act, including designing sophisticated non-grantor trusts which may be funded with assets of clients in high tax states to avoid subjecting the income of the assets to state income tax. This class will teach attorneys to point out tax minimization strategies to clients, including the use of distributions to reduce overall income taxation, and will teach attorneys how to achieve the creditor protection benefits of an asset protection trust that are required to minimize state income taxation. Finally, this class will also provide an overview of the qualified business income deduction under new Section 199A and the reduced tax rate for C corporations.
- Overview of 2017 Tax Act and Current Income Tax Landscape
- Incomplete Gift Non-Grantor Trusts for State Income Tax Minimization
- Overview of Taxation of Trusts
- Non-Grantor Trusts that Minimize Both Estate and Income Taxes
- New Section 199A
- Reduced Corporate Tax Rate