Do You Know How to Use Non-Grantor Trusts
with Real Estate to Bypass Limit on State and Local
Property Tax Deductions?
The new $10,000 limit on state and local property tax deductions
applies per taxpaying entity, so trusts funded with real estate can effectively
multiply the deduction limit even after the 643(F) Regs.
Thanks to the 2017 Tax Act, also more commonly known as the Tax Cuts & Job Act (“TCJA”), many deductions allowed to an individual for federal income tax purposes for certain expenses or costs incurred have been either permanently eliminated, suspended or limited until 2026. As a result, the use of non-grantor trusts have become a much-talked about strategy to help assist some individual taxpayers in leveraging more federal income tax benefits from state and local tax payments, despite the limitation on the deduction through 2025.
To learn more about how to utilize non-grantor trusts with homes and vacation homes as a tax-savings strategy for your clients, please join us and nationally renowned attorney-CPA, Martin “Marty” Shenkman, J.D., CPA, MBA, for a special presentation entitled, “Using Non-Grantor Trusts to Own Homes”.
During this 60-minute presentation, Marty will be covering the following:
- Creative planning to salvage income tax benefits clients had realized on their homes before TCJA.
- SALT deductions limit/eliminate property tax deductions – what can be done to save those deductions?
- How to use a non-grantor trust to save property tax deductions.
- Proposed 199A Regs might limit this planning with their multiple trust rule but is that rule valid? How to plan around the Proposed Reg limitations.
- Evaluate property tax savings in the context of all non-grantor trust savings to best advise clients.
- Home sale exclusion under Sec. 121 is lost if a non-grantor trust owns and sells a principal residence. How can you preserve that benefit?
- How should you structure the transaction? How should multiple non-grantor trusts own a residence? What are the tax filing requirements and what can you do about them?
- And much more!
Your purchase includes: Immediately downloadable PDF handout materials and MP3 audio recording. A PDF transcript may be added onto your purchase during the checkout process for an additional fee.
SPECIAL FREE BONUS—CONSUMER MARKETING MATERIALS
In addition to the presentation handouts and recording, purchasers will also receive a short PowerPoint slide deck with presentation material to use with your clients to help explain these planning strategies. This PowerPoint presentation is included with your purchase as a free bonus!
- Program Title: Using Non-Grantor Trusts to Own Homes
- Speaker: Martin M. Shenkman
- Duration: 60 minutes
ABOUT THE SPEAKER
J.D., CPA, MBA
Martin “Marty” Shenkman, Esq., CPA, MBA is an estate planning attorney and Certified Public Accountant from Paramus, New Jersey. He received his Bachelor of Science degree from Wharton School, University of Pennsylvania 1977 with a concentration in accounting and economics. He received a Masters degree in Business Administration from the University of Michigan 1981, with a concentration in tax and finance. Mr. Shenkman is a widely quoted expert on tax matters and is a regular source for numerous financial and business publications, including The Wall Street Journal, Fortune, Money, The New York Times, and others. He has appeared as a…
IMPORTANT NOTICE REGARDING CE CREDIT
The Ultimate Estate Planner, Inc. and the presenter are not registered Continuing Education Sponsors and this program is not pre-approved for continuing education credit for any state or regulatory agency.
However, please note that each program includes a Certificate of Completion and, depending on the license and the regulatory agency for which governs a participant’s CE credit, some professionals may be able to self-report his or her participation and receive credit. It is the responsibility of the participant to complete any process necessary to seek self-reported CE credit for his or her participation. By registering for a teleconference (or purchasing on On-Demand program), you understand that CE credit is not guaranteed or warranted by the presenter or The Ultimate Estate Planner, Inc.