Key takeaways
Host: Ted Dougherty , partner, Deloitte Tax LLP
Presenters: Dave Earley, Jim Calzaretta, Andrea Garcia Castelao, Lisa Shields, Howard Ptak
Nearing the end of 2021, investment managers will likely reflect on lessons learned from potential legislation, unprecedented government stimulus, and a global pandemic—all of which created uncertainty. What are the critical areas to look at, and what approaches should be considered for both finalizing tax year 2021 and beginning tax year 2022 planning? We’ll discuss:
- Tax planning in a rate-raising environment
- Carried interest planning
- Changes to cross-border investing rules
- New reporting requirements for tax year 2021
Dave Earley
Dave serves as Deloitte’s national Investment Management Tax leader in the US and specializes in the taxation of hedge and private equity funds. Prior to joining Deloitte Dave co-founded a long short equity and derivative hedge fund and was a client of Deloitte. Dave is a CPA licensed in MA, CT, and NY. He has authored several articles about the taxation of investment fund vehicles for leading tax publications including The Hedge Fund Journal, Journal of Taxation of Investments and BNA—Tax Management Journal, and Deloitte publications including The Essential Tax and Wealth Planning Guide for 2010 and Performance Magazine.
Jim Calzaretta
Jim specializes in tax consulting and compliance for partnerships and S corporations. He has been very active in restructuring projects that include preparing a partnership for a public offering. He regularly consults on various acquisitions, including asset-versus-equity transactions and joint venture arrangements, profit and loss allocations, cash flow modeling, and tax deferral planning, choice of entity including conversions between C corporation and S corporation, and S corporation sale transactions. In addition to his client service role, Jim is the operations leader for Washington National Tax, the technical leader of Deloitte Tax’s Pass throughs competency group and has held several additional firm leadership roles, including Deloitte Tax Diversity and Inclusion leader for the Midwest region, and inaugural dean of Deloitte Tax’s innovative Dbriefs U, a program designed to provide supplemental tax and career learning to students at top-ranked universities. Jim is a past chair of the American Institute of CPAs task force on Trust Accounting Income and a frequent lecturer on partnership taxation matters at national programs such as those sponsored by Tax Executives Institute and Internal Revenue Service National Forum. He is an active member of National Association for Real Estate Investment Trusts and is a past board member for Special Olympics Illinois. Jim earned a BS in accounting and finance from University of Illinois at Urbana and an MS in taxation from DePaul University.
Ted Dougherty
Ted leads Deloitte’s US Hedge Fund practice and is the national Tax leader for hedge funds. Ted deals with complex tax issues and has led the industry in assessing the impact and implementation of ASC 740 (formerly FIN 48) and FATCA. In addition to these roles, Ted also leads the National Tax Compliance Standardization program for hedge funds and private equity funds.
