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Self-Dealing Part 2 and Excess Business Holdings Too

SELF-DEALING PART 2 AND EXCESS BUSINESS HOLDINGS TOO

Cost Free
Presentation Length 1.0 hour

Recorded DateMay 6, 2022
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

This is a “must-see” presentation for any CPA or corporate officer who works with business or investment entities that are or may be partially owed, or interact with, private companies or investment entities. This presentation will enable attendees to advise businesses and active and entrepreneurial donors as to how they can benefit charity while also operating their businesses with a synergistic impact.

Tax advisors who provide advice to tax-compliance services for charitable and not-for-profit entities must be knowledgeable with respect to the self-dealing rules found under Internal Revenue Code Section 4941. This complicated labyrinth of definitions, rules, exceptions to the rules, and exceptions to the exceptions can cause even the most brilliant practitioners to become confused or to make mistakes that can result in significant penalties or even disqualification of charitable status.

Karl Mill, JD is one of the best qualified and most experienced charitable tax structuring attorneys in the United States. His easy-to-understand explanations and enthusiasm for this topic make the presentation more than worthwhile. Join Karl, along with Alan Gassman, for this informative session. 

It is not necessary to have viewed Part 1 before seeing Part 2. We will review the self-dealing rules and Part 1 basics.

Learning Objectives:


  • Outline how private and public charities can interact with for-profit businesses and their owners.

  • Define the self-dealing rules and how they work

  • Plan ahead for situations that may be challenging

  • Identify practical strategies and exceptions for related party identification

  • Determine how to handle estate planning when partial ownership of a business may pass to a private foundation

  • Name excess business holding rules and exceptions thereto

  • Identify The Paul Newman exception to the excess business holding rules

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Gassman crotty den

Alan S. Gassman, J.D., LL.M., is a board-certified estate planning and trust lawyer who practices in Clearwater, Florida. He has an LL.M. in taxation from the University of Florida and practices in trust and estate planning, tax, wealth preservation, and the representation of physicians and medical practices.

Mr. Gassman speaks at many tax conferences, national programs, and webinar platforms, including Bloomberg BNA Tax and Accounting and the Notre Dame Tax and Estate Planning Institute.

 

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Karl Mill

Mill Law Center
Founding Attorney
karl@mill.law
(415) 234-3349

Milllawcenter

Prior to founding Mill Law Center, Karl Mill was a partner at a boutique law firm serving non-profits and their donors. Karl continues to advise a broad range of non-profit organizations, including everything from the most innovative start-ups to some of the largest, most established foundations and charities around the country. 

Karl’s philosophy is to apply his years as a lawyer and educator to provide clear, actionable legal advice and support to non-profits. Karl’s areas of expertise include private foundations, public charities, impact investment, social enterprise, and charitable gift planning. 

Karl graduated from Columbia Law School in 2013 and practiced trust, estate, and tax law for several years at DLA Piper.

About Our Presenter

Gassman crotty den

Our firm was formed in 1987 with one lawyer and a shared secretary and receptionist to provide representation to professionals, business owners and retirees in their estate and related tax and personal planning, business and corporate needs.

Since then we have grown to 6 lawyers and over 20 staff, which we have found over the past two decades to be the best size for us. We are very proud of our team, our systems, and our dedication to providing the best and most appropriate legal services for all clients, whether big or small. Our lawyers meet together almost every morning to discuss and work together on cases, strategies and practice improvement projects in order to work the most efficiently and effectively for our clients. We like what we do and enjoy working together.