Our guest speaker, Stacy Eastland, Managing Director of Goldman Sachs & Company, discusses wealth planning opportunities and considerations with corporations, preferred partnerships, and limited liability companies. We touch on family office planning strategies that allow for the deduction of investment management fees in the wake of the repeal of §212, including lessons learned from Lender Management and Hellman. We also get into wealth planning techniques using preferred freezes, BDOTs (beneficiary deemed owner trusts), and choice of entity considerations.

Our guest speaker, Stacy Eastland, Managing Director of Goldman Sachs & Company, discusses wealth planning opportunities and considerations with corporations, preferred partnerships, and limited liability companies. We touch on family office planning strategies that allow for the deduction of investment management fees in the wake of the repeal of §212, including lessons learned from Lender Management and Hellman. We also get into wealth planning techniques using preferred freezes, BDOTs (beneficiary deemed owner trusts), and choice of entity considerations.

In these pilot episodes of Conversations on Wealth, we discuss a variety of hot topics critical to wealth planning professionals with Steve Akers, Managing Directors and Senior Fiduciary Counsel at Bessemer Trust. We start with the Supreme Court’s ruling in Kaestner and the repercussions of such opinion. We then discuss the proposed regulations addressing clawback of the applicable exclusion amount, select IRS audit issues, the IRS’s recent assault on various wealth planning transactions using §2036(a)(2), and a variety of other tax developments.

In these pilot episodes of Conversations on Wealth, we discuss a variety of hot topics critical to wealth planning professionals with Steve Akers, Managing Directors and Senior Fiduciary Counsel at Bessemer Trust. We start with the Supreme Court’s ruling in Kaestner and the repercussions of such opinion. We then discuss the proposed regulations addressing clawback of the applicable exclusion amount, select IRS audit issues, the IRS’s recent assault on various wealth planning transactions using §2036(a)(2), and a variety of other tax developments.

IRS guidance in 2018 left considerable uncertainty as to how qualified opportunity funds could be designed to deploy capital in such a way to qualify their investors for their desired tax benefits, particularly where the funds were to invest in operating businesses rather than specific real estate projects. In the latest Practitioner Insight, three tax attorneys, Bradley Borden, Alan Lederman, and Jessica Millett, talk with Andrea L. Ben-Yosef about favorable and unfavorable aspects of the 2019 proposed regulation package and some remaining uncertainties.

Artificial intelligence (AI) has made its way into the accounting profession. App Zen CEO, Anant Kale joins Bloomberg Financial Accounting to speak about transformative accounting solutions for modern finance teams. Listeners will better understand the technology available, and how they can help companies discover misuse, fraud, and mistakes. Learn how AI can manage compliance through the elimination of manual sampling techniques and through the audit of 100% of expenses in real time. See how AI is helping accountants repurpose their skills, transitioning the low-risk, and high-volume transactions to automation and concentrating human auditor focus on the complex, high-risk areas of tomorrow’s corporate dealings. From gentlemen’s clubs and mistresses to entertainment and coffee, tune in and hear about some of the wild instances AI discovered!