The Thursday Report – July 18, 2013, Einstein, New LLC Chart and Disregarded Entities
Providing a link between Wednesday and Friday.
Special Albert Einstein Edition
How to File Tax Returns for Disregarded Entities and Grantor Trusts, with Sample Forms by Kenneth J. Crotty, J.D., LL.M.
Ken Crotty’s LLC Clinic – Increase in Non-Waivable Provisions
Last Call to Take Advantage of Ultra-Low Rates for GRATs? An Article by Stephen S. Schilling, CFA and Tara Thompson Popernik, CFA, CFP of AllianceBernstein
See Our New Seminars & Webinars Below in Blue
Lawyers in History: The Impact of Law Practice on Their Lives and Careers – John Penn
Albert Einstein
Thursdays are an illusion albeit seemingly very real.
While traveling on a train at 100 mph the Thursday Report remains stationary, and may therefore be equivalent to the speed of light.
E=Thursday Report3
– Albert “Colonel Sanders” Einstein, 1953
Princeton University, 1953 Lectures
From the book entitled My Life with Albert Einstein by Colonel Harlan Sanders
SOME OF OUR FAVORITE ALBERT EINSTEIN QUOTES:
We all know that light travels faster than sound. That’s why certain people appear bright until you hear them speak.
The greatest mathematical discovery of all time is compound interest.
If a cluttered desk is a sign of a cluttered mind, of what, then, is an empty desk a sign?
Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius — and a lot of courage — to move in the opposite direction.
For a discussion of Albert Einstein’s theory of relativity and the answer to the question as to whether light gets faster when projected from a moving object click here.
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We welcome contributions for future Thursday Report topics. If you are interested in making a contribution as a guest writer, please email Janine Gunyan at Janine@gassmanpa.com. This report and other Thursday Reports can be found on our website at www.gassmanlaw.com.
How to File Tax Returns for Disregarded Entities and Grantor Trusts, with Sample Forms
By: Kenneth J. Crotty, J.D., LL.M.
This is part 1 of a 2 part piece on this topic. Next week Ken will cover electing small business trusts and other issues that arise with disregarded entities.
“Disregarded entities are an illusion albeit not a reality.” – Albert Einstein
Ken Crotty of our firm has spent a lot of time preparing an explanation of how to report disregarded entities and defective grantor trusts for federal income tax purposes.
We do not believe that this material is available anywhere else.
The most common disregarded entities are single member LLCs and “defective” Grantor trusts. As a general rule, disregarded entities and Grantor trusts are not required to obtain employer identification numbers. However, many financial institutions require employer identification numbers for income reporting purposes and will not allow the social security number of the owner or Grantor to be used.
Reporting Disregarded Entities
If a disregarded entity has an employer identification number and the ownership of the entity changes so that it no longer qualifies as a disregarded entity, the disregarded entity should retain its old employer identification number. For example, if a disregarded single member LLC has an employer identification number, and then a second member buys into the LLC so that it is now treated as a partnership, the partnership should continue using the employer identification number that was assigned to the LLC when it was disregarded.
Generally disregarded entities do not need to file a separate tax return. The items of income and deduction from the activities of the disregarded entity will be picked up on the owner=s tax return on the following Schedules:
Schedule C B Profit or Loss from Business (sole proprietorship)
Schedule E B Supplemental Income or Loss
Schedule F B Profit or Loss from Farming
The disregarded entity is treated as separate from its owner for employment tax purposes for wages paid on or after January 1, 2009 and for excise taxes reported and paid on Forms 720, 730, 2290, 11-C, or 8849 after December 31, 2007. In these situations, the employment tax and excise tax return instructions should be reviewed to be certain that the disregarded entity is reporting the necessary information.
Reporting Grantor Trusts
If a trustee is not using one of the optional methods of filing, which are discussed below, and the entire trust is a Grantor trust, the trustee need only fill in the entity information on the Form 1041 and not show any dollar amounts on the Form 1041 itself. Instead, the trustee should show the dollar amounts on attachments to the Form 1041. The attachment should not be a Schedule K-1. The trustee must give the Grantor of the trust a copy of the attachment.
If the trust is only partially by a Grantor trust, then the items of income and deduction for the non-Grantor portion of the trust should be reported on the Form 1041 as normally would be done and the portion of the items treated as owned by a Grantor trust should be shown on an attachment.
The attachment must show the name, identifying number, and address of the persons to whom the income is taxable. The income must be reported in the same detail as it would be reported on the Grantor=s income tax return if it had been received directly by the Grantor. Any deductions or credits that apply to the income also need to be reported in the same detail as they would be if they had been received directly by the Grantor. The Grantor then reports the items of income, deductions and credits on the Grantor=s personal return.
For Grantor trusts, there are three optional methods of filing, which the trustee may choose instead of filing the Form 1041. If a trust is treated as owned by one person, then the trustee may select Option 1 or Option 2 described below. If a husband and wife are treated as the owners of a trust, they will be deemed to be one person and therefore the trustee may select either Option 1 or Option 2 below. If the trust is treated as owned by more than one person, then the trustee may select Option 3 below.
You can click here to see the sample documentation to be used to inform the IRS that a trust is disregarded for income tax purposes. There is a sample default Form 1041 which can be filed for a Grantor Trust. Also provided are samples showing the reporting necessary under Option 1 and Option 2.
Option 3 has the same reporting requirements as Option 2 but only applies in situations where there is more than one Grantor, and the Grantors are not husband and wife. In this situation the trustee needs to determine which portion of the trust assets were payable to Grantor 1 and which portion of the trust assets were payable to Grantor 2. The trustee would then provide each of Grantor 1 and Grantor 2 with the same information as shown under Option 2.
Option 1: The trustee must give all of the payers of income during the year to the trust the social security number of the individual treated as the owner of the trust and the trust=s address. To use this method, the owner of the trust must provide the trustee with a signed W-9. If the owner of the trust is not the trustee or co-trustee, then the trustee must (1) give the owner a statement showing all of the items of income, deduction, and credit of the trust; (2) identify the payer of each item of income; (3) explain how the owner takes such items into account when preparing the owner’s tax return; and (4) inform the owner that these items must be included on his or her tax return. If the trustee reports under Option 1 and the trust does not have an employer identification number, the trust does not need to obtain an employer identification number to satisfy Option 1.
Option 2: The trustee must give all of the payers of income during the year to the trust the full name of the trust, the trust=s address and the trust=s tax identification number. The trustee also must file with the IRS the appropriate Forms 1099 to report the income paid to the trust during the tax year. These forms show the trust as the payer and the individual treated as the owner of the trust as the payee. If the owner of the trust is not the trustee or co-trustee, then the trustee must (1) give the owner a statement showing all of the items of income, deduction, and credit of the trust; (2) explain how the owner takes such items into account when preparing the owner=s tax return; and (3) inform the owner that these items must be included on his or her tax return. If the trustee reports under Option 2 and the trust does not have an employer identification number, the trust needs to obtain an employer identification number to satisfy Option 2.
Option 3: The trustee must give all of the payers of income during the year to the trust the full name of the trust, the trust=s address and the trust=s tax identification number. The trustee also needs to file with the IRS the appropriate Forms 1099 to report the income paid to the trust during the tax year. These forms would show the trust as the payer and the owners as the payees. The trustee must (1) give each owner a statement showing all of the items of income, deduction, and credit of the trust attributable to such owner; (2) explain how each owner takes such items into account when preparing his or her tax return; and (3) inform each owner that these items must be included on his or her tax return. If the trustee reports under Option 3 and the trust does not have an employer identification number, the trust needs to obtain an employer identification number to satisfy Option 3.
If a trustee has been filing a Form 1041, the trustee can change to one of the three optional methods listed above at any time. The trustee can do this by filing a final Form 1041 for the tax year immediately preceeding the first tax year that the trustee elects to use one of the optional methods of filing. On the form of the final Form 1041, the Final return box in item F must be checked and the words “Pursuant to section 1.671-4(g), this is the final Form 1041 for this grantor trust” should be written on the first page of the Form 1041.
The filing of the relevant 1099s by the trustee, in relation to Options 2 and 3 above depends on the type of income for the Trust. For example the turstee may be required to file a 1099-DIV for dividend income and file a 1099-INT for relevant interest income.
In relation to the reporting of income from long-term gain or loss from a partnership, S Corporation, or trust, Treasury Regulation 1.671-4(b)(5) provides that in the case of a trust that owns an interest, the distributive share belonging to the trust as a partner, shareholder, or beneficiary will not be includable by the trustee on any Form 1099 because the distributive share is reportable by the partnership, S corporation, or trust on the Schedule K-1.
Certain trusts are not allowed to use the optional filing methods. These include the following:
1. The common trust fund;
2. A foreign trust or trust that has any of its assets located outside of the United States;
3. A qualified Subchapter S trust;
4. A trust which is treated as owned by one or more individuals who have a tax year other than a calendar year;
5. A trust which is owned by one or more persons who are not U.S. persons; and
6. A trust which is owned by one or more persons if at least one person is an exempt recipient for informational reporting purposes unless at least one other person is not an exempt recipient and the trustee reports the information without treating any of the owners as exempt recipients.
Ken Crotty’s LLC Clinic – Increase in Non-Waivable Provisions
The new LLC Act is a “default” act which generally allows the parties to customize the Operating Agreement for the LLC based on the agreement of the members. However, some provisions may not be waived or modified. Compared to Section 608.423 of the old act, Section 605.0105 of the new Act greatly expands these non-waiveable provisions. The chart below compares these two Sections showing the differences.
We thank recent Stetson Law School graduate, Corinna Cicmanec who will be attending the University of Florida Tax Program this coming semester, for preparing the following chart and putting up with us for most of the summer. Congratulations Corinna and enjoy your time in Gainesville relaxing with the Internal Revenue Code.
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Provision |
Old – §608.423 | New – §605.0105 |
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The Operating Agreement |
The operating agreement:- Regulates the conduct and affairs of the LLC;- Establishes duties; and- Governs relations between the members, and the members and the LLC | Operating agreement specifically governs: |
- Relations between members, and between members and the LLC
- The rights and duties of managers
- The conduct of activities and affairs of the LLC
- Means and conditions of amending the operating agreement
Agreement Limitations
Cannot unreasonably restrict the right to information or access to records under §608.4101 (right to information provision)Cannot unreasonably restrict the right to information or access to information, but can impose reasonable restrictions on the availability and use of info, and may define appropriate remedies for breach of a reasonable restriction on use. Cannot eliminate the duty of loyalty, but can:- Identify activities that are not in violation of the duty of loyalty if not unreasonable; and- Specify a number or percentage of members or disinterested managers that can authorize, or ratify, an act or transaction as not violating the duty of loyalty if all material facts were disclosed.Cannot eliminate the duty of loyalty or duty of care (under §605.04091, standards of conduct for members and managers), except for the rules that allowed under subsection 4 (see below)- Cannot unreasonably reduce the duty of care under §608.4225Cannot eliminate the duty of loyalty or duty of care (under §605.04091, standards of conduct for members and managers), except for the rules that allowed under subsection 4 (see below)
Cannot eliminate the obligation of good faith and fair dealing, but can make standards of measurement for such obligation as long not manifestly unreasonable
Cannot vary requirement to wind up LLC’s business
Cannot restrict the rights of a person (other than manager, member or transferee of a member’s distributional interest)Cannot restrict the rights of a person, except as provided in the operating agreement Cannot vary the capacity of LLC to sue or be sued Cannot vary governing law Cannot vary requirement, procedure, or other provisions regarding:- Registered agents; orThe department, including records authorized or required to be delivered to the department for filing – Cannot vary the provisions regarding the signing and filing pursuant to judicial order Cannot relieve or exonerate a person from liability for conduct involving bad faith, willful or intentional misconduct, or a knowing violation of law Cannot vary the power of a person to disassociate, except to require notice of a person’s intent to withdraw (under §605.0602(1)) to be in a record Cannot vary the grounds for judicial dissolution (as stated in chapter) Cannot restrict the rights of a member to maintain an action under:- The direct action of a member;- A derivative action;- Proper plaintiff;- Special litigation committee (agreement can provide that the LLC may not appoint the committee, but cannot prevent the court from doing so);- Proceeds and expenses; or
Voluntary dismissal or settlement; notice.
– Cannot vary the right of a member to approve a merger, interest exchange or conversion Cannot vary the contents of a plan of merger, interest exchange, conversion or domestication
Last Call to Take Advantage of Ultra-Low Rates for GRATs? An Article by Stephen S. Schilling, CFA and Tara Thompson Popernik, CFA, CFP of AllianceBernstein
Matt Gordon from AllianceBernstein’s Tampa office is a very well informed and dedicated advisor who has provided us with the following article prepared by AllianceBernstein’s amazing planning team. Matt’s contact information is as follows:
Matthew Gordon Bernstein Global Wealth Management 101 East Kennedy Blvd. Suite 3200 Tampa, FL 33602 matthew.gordon@bernstein.com Phone: 813-314-3328Anyone considering a long-time GRAT or a QPRT should read this article and share it with clients and other advisors.
Steve S. Schilling is a Director in Bernstein’s Wealth Management Group and is based in the firm’s San Francisco office. He advises Bernstein’s Bay Area and Pacific Northwest clients regarding complex investment planning issues; his areas of expertise include diversification planning for holders of concentrated portfolios, multigenerational wealth transfer, philanthropy and pre-transaction planning. Schilling joined the firm in 2000 and has been a member of the Wealth Management Group since 2003, serving as an analyst and senior analyst before becoming a Director in 2009. Schilling earned a BA in economics from the University of California, Santa Barbara, and is a Chartered Financial Analyst charter holder.
Tara Thompson Popernik was named the Director of Research for the Wealth Management Group in 2011 and is responsible for leading research initiatives on investment planning and asset allocation issues facing high-net-worth families, family offices, and endowments and foundations. Previously, she was a wealth management specialist, and before that she was a senior investment planning analyst. Prior to joining the firm in 2003, Popernik was a paralegal in the Capital Markets Group of Cadwalader, Wickersham & Taft. She earned a BA with honors in comparative literature from Dartmouth College. Popernik is a CFA charter holder and a Certified Financial Planner certificant.
US investors interested in establishing a “zeroed-out” Grantor Retained Annuity Trust (GRAT) should consider acting fast to complete their transactions before rising interest-rates diminish their potential value—preferably before the end of July.
The “zeroed-out” GRAT has been a popular estate planning vehicle for many years because it can transfer wealth to the next generation while using little or none of the $5.25 million applicable exclusion amount (the money that you can give away either during your life or at death before gift or estate taxes kick in). That leaves all or most of the applicable exclusion available to shelter assets from estate tax. At an individual’s death, the cost basis for appreciated assets is increased to fair market value so the potential income tax on the appreciation is eliminated. This “step-up” has become even more valuable with the increase in US income tax rates effective 2013.
The key to a zeroed-out GRAT is that the present value of the annuity payments retained by the grantor must equal (or zero out) the value contributed to the GRAT, so that there is no taxable gift. Anything remaining in the trust after the annuities have been paid passes to the beneficiary’s gift tax-free. How large the annuity payments must be to zero-out the GRAT is based on current interest rates. Lower interest rates are better because they lower the required annuity payments, and thus increase the chances that there will be something left over for heirs.
The Internal Revenue Service sets the required annuity rate for newly established GRATs each month, based on Treasury yields. The rate has fluctuated from an all-time high of 11.6% in 1989 to an all-time low of 1.0% in January 2013. The July rate of 1.4% reflects Treasury yields from May 15 through June 14, so it does not reflect the recent spike in bond yields; the August rate will.
Based on a methodology we believed to be similar to the IRS methodology, we predict that the August rate will be 2.0%, and, if current Treasury yields persist, the September rate will be 2.2%. So, there’s likely to be a significant benefit to completing a GRAT transaction before the end of July.
To give clients a sense of the large impact that interest rates can have on the success of longer-term GRATS, we estimated the remainder value of GRATs established under different historical conditions. In each case, a 10-year GRAT is established with $1 million invested in the S&P 500. For GRATs established in the quintile of months when the 7520 rate was lowest (between 1.2% and 2.6%), the median remainder value would have been about $2.1 million, almost four times the $533,000 median remainder value of GRATs established in the second quintile of months, when the 7520 rate was between 2.6% to 5.2%.*
[NOTE FROM THURSDAY REPORT EDITORS: We certainly hope that the interest rates will not go up to 5.2% any time soon! That is like having to pay $50 for a bucket of chicken!]
The good news is that there are still three weeks left to take advantage of the July rate, and the August rate will still fall within the lowest quintile of historical rates. But the window for locking in a low rate for a longer term GRAT strategy may be closing, as the days of hurdle rates below 2% may soon be at an end.
*This analysis includes 745 10-year periods, beginning monthly from 1941 through May 2003; using a proxy for the 7520 rate before 1989 based on IRS methodology. All strategies funded with $1 million. All assets are invested in an S&P 500 index. Wealth to beneficiaries is adjusted for inflation over the applicable time horizon.
The views expressed herein do not constitute, and should not be considered to be, legal or tax advice, and there is no relationship between AllianceBernstein and Colonel Sanders. The tax rules are complicated, and their impact on a particular individual may differ depending on the individual’s specific circumstances. Please consult with your legal or tax advisor regarding your specific situation.
Click here to see our chapter on Grantor Retained Annuity Trusts in the Bloomberg BNA Estate Tax Planning in 2011 and 2012 book co-written by Alan S. Gassman, Kenneth J. Crotty and Christopher J. Denicolo.
Our Most Recent Seminar and Webinar Announcements
Below we have listed our most recent webinars and seminars for your reference. We are also going to be sending these to you as a separate announcement.
BP OIL SPILL CLAIMS: AVOID MISTAKES AND MAXIMIZE CLAIMS
On Wednesday, July 24, 2013 at 12:30 p.m. please join John Goldsmith of the Trenam Kemker Law Firm and Alan Gassman for a 45 minute webinar regarding BP Oil Spill Claims. There is a lot of criteria and options when seeking a claim and this webinar lays them out in a clear and understandable fashion. To register for the webinar please click here.
NOTE: This presentation was also given on Wednesday, July 17, 2013. If you would like a copy of the video and the accompanying PowerPoint presentation please email Janine Gunyan at Janine@gassmanpa.com
THE 444 SHOW (a monthly online webinar series) on The Last Legislative Session and The Florida Bar’s Legislative Efforts
Please join us for the 444 Show on Thursday, August 22, 2013 at 4pm. The 444 Show is a monthly webinar series sponsored by the Clearwater Bar Association and moderated by Alan S. Gassman. Each show qualifies for 1 hour of continuing education credit.
We are pleased to welcome Sandra Diamond of Williamson, Diamond & Caton, PA., and Aimee Diazlyon and Jim Daughton who are the legislative consultants for The Florida Bar to this month’s show. They will be speaking on the last legislative session and The Florida Bar’s legislative efforts.
To register for the webinar please click here.
WEDU 8th ANNUAL ESTATE & TAX PLANNING CONTINUING EDUCATION SEMINAR
Join speakers Daniel A Smith and Alan S. Gassman for the WEDU 8th Annual Estate and Tax Planning Seminar on Thursday, September 19, 2013. The seminar starts at 7:30 am with a hot breakfast and goes until 11:30 am. Tickets are $50 and includes breakfast. Topics include: Coming Shifts in Estate Planning by Daniel A. Smith, Asset Protection by Alan S. Gassman and a panel discussion on Income Tax Reduction Strategies and 1041 Issues.
Daniel A. Smith’s extensive real-world experience brings his classroom information into immediate, practical, and applicable form. He specializes in integrating sales and relationship management with the complexities of estate planning, estate taxation, charitable giving, and investment management issues of the High Net Worth and Ultra High Net Worth client. Prior to joining Cannon in 1990, Daniel was a Trust Services Officer at First Hawaiian Bank and an Account Executive with Dean Witter Reynolds (now Morgan Stanley). His years of experience with Cannon have added best practices from constant interaction with many of the nation’s top financial advisors and wealthy individuals.
When not teaching at Cannon Schools, Daniel is a frequent speaker at banks, trust companies, brokerage firms and other financial services companies nationwide. He also speaks at financial services conferences on estate planning, taxation, sales, sales management, quality service and industry trends. His work has been published in Trusts & Estates, Registered Rep and other industry publications. Daniel’s On Site training addresses sales and service issues and technical topics related to personal trust, investments, and estate planning. His consulting work is focused on developing custom sales presentation materials and computer-based training.
For more information and to register please visit http://www.wedu.org/events/ceseminar/
Lawyers in History: The Impact of Law Practice on their Lives and Careers: John Penn
As we continue to celebrate the month of July and the birth of our nation we recognize one of the signers of the Declaration of Independence, John Penn. Penn was born on May 17th, 1741 in Caroline County, Virginia. John Penn is not a man that is commonly recognized for his participation in the signing of the Declaration of Independence. In fact he is commonly mistaken for another John Penn, the grandson of William Penn, the founder of Pennsylvania. Although cast in the shadows, Penn was a courageous man that left his mark on one of the most important documents signed in United States history.
In addition, Penn accomplished many feats for a single child that came from a family that did not put education first. Penn attended a common school for only two years because his father did not consider education to be of importance. However, when his father died and his widowed mother became unable to support and care for herself and the farm that was left behind, Penn sought advice from his uncle, Edmund Pendleton, who was an esteemed attorney (stay tuned to a future Thursday Report on Edmund Pendleton and his practice of law). Pendleton was known for writing George Washington’s will the night before Washington was appointed Commander in chief by the Continental Congress and was described by his friend Thomas Jefferson as “the greatest orator” in the colonies. Penn, motivated by his father’s death, followed in the footsteps of his uncle, and with exposure to some of the finest lawyer’s in Virginia and one of the best libraries throughout the colonies, Penn became a member of the Virginia Bar only three years after his father’s death at the age of 21.
After practicing law in Virginia for twelve years, Penn moved his family to Williamsboro, North Carolina, for reasons that are not entirely clear. However, one reason Penn may have relocated may be due to the charges he was facing in Virginia for being disrespectful and making treasonous remarks about King George. (Anyone who is reading this wins a prize by clicking the next link.) It was believed that Penn made these remarks in a public meeting where he was then reported to royal authorities regarding his opposition to the King’s taxes and duties being imposed on the colonies. Penn was found guilty and fined one penny, however he refused to pay the fine.
Penn was on the fast track for independence and his move to North Carolina gave him the opportunity to express his interest in liberty and to speak to those who would support him in his journey. After being accepted and recognized as a leader in North Carolina through his law firm and his role in politics, Penn arrived in Congress and declared, “My first wish is for America to be free.” The following are a few of Penn’s accomplishments:
- Penn served in the Continental Congress for six years;
- He signed the Declaration of Independence
- He signed the Articles of Confederation
- He signed the Halifax Resolves (the North Carolina Constitution)
- He was virtual dictator of North Carolina at what many consider to be the turning point of the American Revolution in 1781-1782.
After being part of one of the most historical moments in United States history and serving in Congress for six years, John Penn died near his home in North Carolina on September 14th, 1788.
Here is the link referred to above.
Applicable Federal Rates
Please click here to view a chart of this month’s, last month’s, and the preceding month’s Applicable Federal Rates, because for a sale you can use the lowest of the 3.
Seminars and Webinars
- MEDICAL EDUCATION RESOURCES PRIMARY CARE CONFERENCE
Alan Gassman will be speaking on the topic of LEGAL, TAX AND FINANCIAL BOOT CAMP FOR THE MEDICAL PRACTICE – A SPECIAL TAX, ESTATE PLANNING AND LAW CONFERENCE FOR PRIMARY CARE PHYSICIANS
Date: July 19 – 21, 2013 (Friday – Sunday mornings; Have fun at Disney in the afternoons and we will not ask what you do at night!)
Topic: 1) The 10 Biggest Mistakes That Physicians Make In Their Investments and Business Planning
9am – 10am on Friday, July 19, 2013
2) Lawsuits 101
10:10 am – 11:10 am on Friday, July 19, 2013
3) Essential Estate Planning
11:10 am – 11:40 am on Friday, July 19, 2013
4) Asset Entity Planning for Creditor Protection and Buy Sell Arrangements
10:10 am – 11:10 am on Saturday, July 20, 2013
5) 50 Ways to Leave Your Overhead – How to Enhance Medical Practice Profitability
11:40 am – 12:40 pm on Saturday, July 20, 2013
6) Stark Naked, or Well Prepared? – Health Law Compliance
9:00 am – 10:00 am on Sunday, July 21, 2013
Location: Disney’s Boardwalk Resort, Orlando, Florida
Topics by Other Speakers: 2013 Tax Changes, Tax Deductions for Physicians, Medical Practice Financial Management, Physician Compensation, Tax Structures for Medical Practices and Retirement Plan Options for Physicians.
Additional Information: For more information please visit www.MER.org Please note that the program qualifies for continuing education credit for physicians.
- THE JOINT EXEMPT STEP-UP TRUST (JEST)
Date: Wednesday, August 21, 2013 | 12pm Eastern/9am Pacific
Sponsor: The Ultimate Estate Planner, Inc.
Additional Information: If you would like to attend this teleconference please click here to register
- NEW CHANGES TO THE FLORIDA TRUSTS & ESTATES TAX AND DURABLE POWER OF ATTORNEY ACT
Date: Monday, July 29, 2013 | 12:30 p.m.
Presenters: Tami Conetta, Esq. and Barry Spivey, Esq.
Location: Online webinar
Additional Information: To register for the webinar please click here.
- AVOIDING THE TRAPS IN EMR/TECH CONTRACTS….NOW YOU TELL ME I’M STUCK WITH THIS FOR 5 YEARS!
Date: Tuesday, September 10, 2013 | 5:00 p.m and Thursday, September 12, 2013 | 12:30 p.m. (Each webinar will last 30 minutes)
Presenter: Sandra Greenblatt, Board Certified Health Lawyer
Location: Online webinar.
Additional Information: To register for the Tuesday, September 10, 2013, 5pm webinar please click here. To register for the Thursday, September 10, 2013, 12:30pm webinar please click here.
- NIP & TUCK: MAKING THE CALL ON OFFICE-BASED SURGERY
Date: Wednesday, September 18, 2013
Presenter: Cheryl White, RN, BS, MSHL, LHRM, LNCC, MSCC, DFHRMPS and Lester Perling, J.D., MHA
Location: Online webinar
Additional Information: To register for the webinar please click here
- NORTH SUNCOAST FICPA MONTHLY MEETING
Date: Wednesday, September 18, 2013, 4:30 – 6:30 p.m.
Speakers: Alan Gassman will be speaking on the Affordable Care Act.
Location: Chili’s in Port Richey
Additional Information: To attend this seminar please email agassman@gassmanpa.com
- WEDU ESTATE PLANNING SEMINAR
Gassman Law Associates meets Big Bird – Sesame Street vs. Wall Street?
Alan Gassman will be speaking on the topic of ASSET PROTECTION – ESSENTIAL KNOWLEDGE AND HOT TOPICS
Date: Thursday, September 19, 2013 | 7:30 am – 11:30 am
Speakers/Topics: Daniel A. Smith of Cannon Financial Institute will speak on Coming Shifts in Estate Planning, and Alan S. Gassman will speak on Asset Protection. There will also be a panel discussion on Income Tax Reduction Strategies & 1041 Issues.
Location: WEDU PBS Berkman Family Broadcast Center, 1300 N Blvd., Tampa, FL
Additional Information: For more information or to register for this seminar please click here
- NOTRE DAME TAX INSTITUTE
Jerry Hesch and Alan Gassman will be speaking on the topic of INTERESTING INTEREST QUESTIONS, PLANNING WITH LOW INTEREST LOANS, PRIVATE ANNUITIES, DEFECTIVE GRANTOR TRUSTS, AND PRIVATE AND COMMERCIAL ANNUITIES
Date: Wednesday, October 16 through Friday, October 18, 2013
Location: Notre Dame College, South Bend, Indiana
Additional Information: Professor Jerry Hesch’s Notre Dame Tax Institute will once again emphasize the importance of income tax planning and implications in addition to estate, estate tax, and related concepts.
Email us now to get your football tickets to the Notre Dame-USC game on October 19.
We welcome questions, comments and suggestions for the presentation that we are assisting Jerry in preparing and presenting.
- PINELLAS COUNTY ESTATE PLANNING COUNCIL SEMINAR
Alan Gassman will be speaking on the topic of HOT TOPICS FOR ESTATE PLANNERS
Date: Wednesday, October 23, 2013 | 8:00 am – 12:00 p.m. (60 MINUTE PRESENTATION)
Location: TBD
Additional Information: To attend the meeting or to receive information on joining the Council please click here or
email agassman@gassmanpa.com
- 2013 MOTE VASCULAR SURGERY FELLOWS – FACTS OF LIFE TALK SEMINAR FOR FIRST YEAR SURGEONS
Alan Gassman will be speaking on the topic of ESTATE, MEDICAL PRACTICE, RETIREMENT, TAX, INSURANCE, AND BUY/SELL PLANNING – THE EARLIER YOU START THE SOONER YOU WILL BE SECURE
Date: October 25 – 27, 2013 | Times TBD
Location: TBD
Additional Information: Please contact agassman@gassmanpa.com for additional information.
- NEW JERSEY INSTITUTE FOR CONTINUING LEGAL EDUCATION (ICLE) HEALTH LAW SYMPOSIUM – AN ALL DAY SEMINAR
Alan Gassman will be speaking on the topic of WHAT HEALTH LAWYERS NEED TO KNOW ABOUT FLORIDA LAW
Date: Friday, November 1, 2013 | 9am – 5pm (Mr. Gassman speaks from 1:10 pm until 2:10 p.m.)
Location: Seton Hall Law School, Newark, New Jersey
Additional Information: Seton Hall University in South Orange, New Jersey was founded in 1856, and they have remodeled since. Today, Seton Hall has over 10,000 students in its undergraduate, graduate and law school programs and is in close proximity to several Kentucky Fried Chicken locations.
- NEW JERSEY INSTITUTE FOR CONTINUING LEGAL EDUCATION (ICLE)_SPECIAL 3 HOUR SESSION
Alan Gassman will be speaking on the topic of WHAT NEW JERSEY LAWYERS NEED TO KNOW ABOUT FLORIDA LAW – A 3 HOUR OVERVIEW BY ALAN S. GASSMAN
Date: Saturday, November 2, 2013
Location: Wilshire Grand Hotel, West Orange, New Jersey | 9am – 12pm
Additional Information: Please tell all of your friends, neighbors and enemies in New Jersey to come out to support this important presentation for the New Jersey Bar Association. We will include discussions of airboats, how to get an alligator off of your driveway, how to peel a navel orange and what collard greens and grits are. For additional information please email agassman@gassmanpa.com
- SALT LAKE CITY ESTATE PLANNING COUNCIL’S FALL ONE DAY “TAX AND DEDUCTIBILITY OF YOUR SKI TRIP” INSTITUTE
Alan Gassman will be speaking on the topic of PRACTICAL ESTATE PLANNING, WITH A $5.25 MILLION EXEMPTION AMOUNT
Date: Thursday, November 7, 2013
Location: Hilton Downtown Salt Lake City, Utah
Additional Information: Please support this one day annual seminar conveniently located near skiing and tourism opportunities. If you would like to attend this event or receive the materials please email agassman@gassmanpa.com
NOTABLE SEMINARS PRESENTED BY OTHERS:
- 48th ANNUAL HECKERLING INSTITUTE ON ESTATE PLANNING SEMINAR
Date: January 13 – 17, 2014
Location: Orlando World Center Marriott, Orlando, Florida
Sponsor: University of Miami School of Law
Additional Information: For more information please visit: http://www.law.miami.edu/heckerling/
- 16th ANNUAL ALL CHILDREN’S HOSPITAL ESTATE, TAX, LEGAL & FINANCIAL PLANNING SEMINAR
Date: Wednesday, February 12, 2014
Location: All Children’s Hospital Education and Conference Center, St. Petersburg, Florida with remote location live interactive viewings in Tampa, Sarasota, New Port Richey, Lakeland, and Bangkok, Thailand
Sponsor: All Children’s Hospital
- THE UNIVERSITY OF FLORIDA TAX INSTITUTE
Date: February 19 – 21, 2014
Location: Grand Hyatt, Tampa, Florida
Sponsor: UF Law alumni and UF Graduate Tax Program
Additional Information: Here is what UF is saying about the program on its website: “The UF Tax Institute will provide tax practitioners and other leading tax, business and estate planning professionals with a program that covers the most current issues and planning ideas with a practical, informative, state-of-the-art approach. The Institute’s schedule will devote separate days or half days to individual income tax issues, entity tax issues and estate planning issues. Speakers and presentations will be announced as the program date nears to ensure coverage of the most timely and significant topics. UF Law alumni have formed the Florida Tax Education Foundation, Inc., a nonprofit corporation, to organize the conference.”
- 1st ANNUAL ESTATE PLANNER’S DAY AT AVE MARIA SCHOOL OF LAW
Speakers: Speakers will include Professor Jerry Hesch, Alan Gassman and others.
Date: April 25, 2014
Location: Ave Maria School of Law, Naples, Florida
Sponsors: Ave Maria School of Law, Collier County Estate Planning Council and more to be announced.
Additional Information: For more information on this event please contact Jonathan Gopman at jonathan.gopman@akerman.com. We thank Jonathan for all of his hard work to put this very special day together.
For details about each event, please visit us online at gassmanlaw.com/newsandevents.html