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Sponsored by Lorman Education
Product ID: 405511EAU
 
Credit & Course Provided by:

Fundamentals for Non-tax Attorneys

OnDemand Webinar (90 minutes)

Gain a good understanding on basic tax fundamentals for nontax attorneys.Fundamentals for Nontax Attorneys is intended to provide you with specifics on tax issues related to the legal work that clients bring to them. Entity formation, real estate transactions, purchase and sale of business assets, gifting and estate planning, all require important tax considerations. This topic is directed to the attorney that can anticipate the impact of current tax law and draft documents and provide guidance that can prevent, or at least, limit future problems.

Authors

Gregory L. Walz, CPA, CVA, Walz & Company CPA's, P.C.

Agenda

Overview

• Proactive vs. Reactive Services

• Coordination Between Professionals Is a Must

Entity Formation

• Five Possibilities (One Is a Never)

• Operating Agreements or Buy-Sell Agreements

• 50/50 the Person That Says No Always Wins

Sale and Purchase of Assets

• Allocation of Selling Price and Form 8594

• The New Like-Kind Exchange Rules

• Related Party Transactions

New Tax Law May Require Changes in Legal Docs

• Structuring a Lease With the QBID in Mind

• Employee Manuals and Policies Re: Expense Reimbursements

Estate Planning

• Step-up in Basis Is a Big Deal

Donor Advised Charitable Gift Fund