Deferring Capital Gains Taxes in the Biden Era

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • CVA
  • CFA
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • CSA
  • MRTP
  • CBA/MCBA
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

Tax increases may be looming. Now is the time to analyze whether President Biden’s proposed tax changes could impact your financial planning. Some of the potential tax increases may affect strategies for deferring taxes on capital gains.

The proposed tax provisions to follow are in the American Jobs Plan and the American Families Plan. The US Treasury’s General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals, known informally as the “Green Book,” provide a summary and the rationale of the tax changes.

President Biden’s American Families Plan proposes increasing the tax rate on long-term capital gains for taxpayers with Adjusted Gross Incomes (AGI) greater than $1 million. Long-term capital gains for such taxpayers would be taxed at the same rate as ordinary income. The tax rate for these taxpayers would increase from 20% to 39.6%, plus the 3.8% Affordable Care Act tax on investment income. If this proposal is enacted, the Federal income tax could be as high as 43.4% on long-term capital gain income. 

In this CPE/CE webinar Richard D. Gann, JD, Managing Partner of 1031 Capital Solutions, will provide a detailed overview of multiple “hot topics” relating to capital-gains tax deferral, including proposed tax law changes and strategies for navigating them. 

Major topics discussed in this CE course are:

  • Individual tax changes that may be on the horizon
  • Replacement options under IRS Revenue Ruling 2004-86
  • Status of tax-deferral opportunities under IRC Sections 1400Z-1 and 1400Z-2
  • Application of IRC §721 to DST/UPREIT conversions
  • Limitations on IRC §453 sales to control capital gains
  • Impact of proposed step-up limitations on illiquid assets
  • The pros and cons of various planning strategies

Learning Objectives

  • To discuss current proposals to limit like-kind exchanges under IRC §1031 and to limit the step-up in cost basis at death.
  • To discuss key strategies for preserving future deferral if 2021 changes take effect.
  • To discuss overview of the increasing trend in transfers of fractional real estate interests to UPREITs under IRC §721.
  • To determine why your clients should avoid the “other” DST, namely the “deferred sales trust”.
  • To describe how to use Qualified Opportunity Zone Funds in lieu of §1031 exchanges.
  • To discuss basic overview of calculating depreciation after a §1031 exchange.

Recommended For

  • The IRS- Approved CE course is recommended for CPAs, EAs, AFSPs, and Other Tax Professionals advising clients over capital gain tax related matters and are interested to know about the recent proposals in capital gain taxes.
  • This CPE course is recommended for PFS, CVAs, CFAs, CSAs, TEPs, and Other Finance Professionals involved in estate and financial planning for their clients.

Who Should Attend?

  • Annual Filing Season Program
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 CPD Credit of Fundamental Financial Planning Concepts for Personal Financial Specialist (PFS)
  • 1 CE Credit for Oregon Registered Tax Preparers (ORTP)
  • 1 CE Credit for Maryland Tax Preparer (MRTP)
  • 1 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00657-21-O)
  • 1 PL Credit for Chartered Financial Analyst (CFA)
  • 1 CPE Credit for Certified Valuation Analyst (CVA)
  • 1 CE Credit for Certified Senior Advisor (CSA)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0623)
  • 1 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 1 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Richard Gann

Managing Partner, 1031 Capital Solutions

Richard (Rick) Gann is a graduate of UCLA and California Western School of Law. He has been a member of the State Bar since 1997. While finishing law school and studying for the bar exam, Rick befriended his then-neighbor, Jason McMurtry. Rick and Jason have worked together, with few interruptions, for over 20 years.

Before transitioning to financial services, Rick practiced law for nine years in the fields of real-estate taxation and estate planning. Rick proudly helped numerous clients manage taxes on their real-estate holdings and investments. Rick’s inspiration for helping property owners came from his grandfather, Paul Gann, author of California’s Proposition 13, which lowered property taxes and sparked a nationwide movement of fiscal conservatism.

In 2006, Rick joined Jason at Grubb & Ellis, fka Triple Net Properties. As an attorney, licensed real-estate broker and general securities principal, Rick developed and supervised a retail division of the company, offering 1031-exchange solutions through a network of commercial brokers across the country.

Later, at Steadfast Companies, Rick helped lead a capital markets team that raised over $1.5 billion from individual investors to acquire over 100 apartment communities across the South and Midwest. Rick also helped create a new 1031-exchange program, designed for individual investors seeking to co-invest in REIT-owned properties.

Most recently, Rick was President of the Stira Alcentra Global Credit Fund, which merged in May 2019 with the Priority Income Fund. Rick has been an active member of both the Institute for Portfolio Alternatives (IPA) and Alternative & Direct Investment Securities Association (ADISA) since 2007.

Rick and his wife, Amy, live in Portland, Oregon and also spend a great deal of time in the Seattle area. The Ganns have one son, currently attending college in the UK.

About Company

1031 Capital Solutions

1031capitalsolutions.com/

Securities offered through Concorde Investment Services, LLC (CIS), Member FINRA/SIPC. Advisory Services through Concorde Asset Management (CAM), an SEC registered investment advisor. 1031 Capital Solutions is independent of CIS and CAM. 1031 Capital Solutions, CIS and CAM are not affiliated, cannot verify the accuracy of, nor assumes responsibility for any content of linked third-party sites which is used for informational purposes only.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.4

531 Ratings

Excellent

256

Very Good

216

Average

51

Poor

6

Terrible

2

CC

Chiquita Carson, Accountant, CVA

Sep 14th, 2021

Very informative and looking forward to learning more inregards this sales 1031, of clients that have rental property. Had 1 big one last year. Have 2 this year. Last definitely a learning process of making sure i added the monies client put into the house before sale to help with there return.

YD

Yuko Dubois, CFP (US), EA

Sep 29th, 2021

there are many 1031 webinars up there but this one is one of the most effective presentations. thank you. Hope you will have a "follow-up" webinar in the near future as the new law proposal reveals more details. Thank you!

ER

Edmund Ricker, CFP (US), EA

Sep 30th, 2021

This was a very informative webinar. I do not have many clients who I can directly apply this information to, but I will have the knowledge if the situation presents itself.

KG

Krista Garlinger, EA

Sep 22nd, 2021

Great platform. The Zoom experience is great, and I appreciate your now including a comment showing the Polling Question was answered. Thanks.

AS

Angel Sotomayor, CPA (US)

Sep 14th, 2021

good informative class, would appreciate if the instructor didn't let his political beliefs show during the webinar.

Capital Gains CPE Course

FREE

1 Credit

Subject Area

Taxes

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