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Deferring Capital Gains Taxes in the Biden Era

Capital Gains Taxes in the Biden Era

1 Credit

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00657-21-S)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0623)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 PL credit for Chartered Financial Analyst (CFAs)

1 CPD credit (Verifiable) for Trust and Estate Practitioners (TEPs)

1 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

1 CPD credit (Verifiable) for CPA/PFS

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00657-21-S)

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00657-21-S)

1 CE credit for Certified Senior Advisor (CSA)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Before starting this self study program, please go through the instructional document.

Overview

  • 1031 Exchange Limitation
    11 mins
  • Capital Gains Tax Rates
    13 mins
  • Planning for Change: Securitized Real Estate Solution
    15 mins
  • Other Tax-Deferral Strategies
    44 mins
  • 453 Instalment Sale
    47 mins

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.

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
  • Tax Pros
  • Young CPA

Testimonial

4.5

(396)
61%
31%
7%
1%
0%

RF

n/a

SF

good info. good presentation.

PL

N/a

GH

So good to hear someone criticize the idiocy of our current presidential administration...and to do so from an unbiased and objective standpoint. Thank you!!!! With all the Critical Race Theory and other ESG crap we have to wade through these days in our CPE this is a wonderful relief.

SD

Excellent presentation of difficult topic

LG

Great program! Thank you!