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About the Teleseminar
The new health care law imposes a new 3.8% Medicare tax on certain business and investment income. The tax will apply to distributions from pass-through entities – LLCs, S Corps, partnerships –and have a direct and substantial impact on all closely-held companies. Certain planning techniques to avoid application of the new tax can have the effect of triggering the self-employment tax. The tax will also change the economics of buying, selling and exchanging interests in closely held companies. In short, the new tax fosters many new planning traps. This program will provide you with a practical framework for understanding the new tax, how it impacts closely-held business planning, distributions and sales, and cover strategies for minimizing the tax.
- Framework for understanding how the new Medicare tax works impacts closely held businesses
- Application of new tax to salaries and distributions from partnerships, LLCs, S Corps and C Corps
- Complex interrelationship of self-employment tax and the new Medicare tax – how avoiding one, triggers the other
- Effect of new Medicare tax on real estate and other passive investments and businesses
- Planning for the sale of interests in LLCs, S Corps and partnerships
- Sophisticated strategies for avoiding impact of tax
About the Speakers
Alson R. Martin is a partner in the Overland Park, Kansas office of Lathrop and Gage, LLP, where he has a national practice focusing on business law, taxation, health care, and retirement plans. He is a Fellow of the American College of Tax Counsel and the American College of Employee Benefits Counsel. Mr. Martin is the author of "Limited Liability Companies and Partnerships" and the co-author of "Kansas Corporation Law & Practice (Including Tax Aspects)." He is the president and a director of the Small Business Council of America. Mr. Martin received his B.A., with highest distinction, from the University of Kansas, and his J.D. and LL.M. from New York University School of Law.
Thomas J. Nichols is a partner in the Milwaukee, Wisconsin office of Meissner Tierney Fisher & Nichols S.C, where he has more than 30 years’ experience in business and federal and state tax planning for companies of every size. He has extensive experience in income, self-employment and estate and gift tax planning for business clients. He formerly served as chair of the S Corporation Committee of the ABA Tax Section and as chair of the Partnership Committee of the State Bar of Wisconsin’s Business Law Section. Mr. Nichols received his B.A. from Marquette University and his J.D. from Marquette University Law School.
Mandatory MCLE Credit Hours
This seminar qualifies for 1.0 MCLE Credit Hour, including up to1.0 Taxation Law Specialty Credit Hour and up to 1.0 Estate Planning & Probate Law Specialty Credit Hour. (Tentative)