Dbriefs
15 Jun.

Private wealth tax planning in an uncertain tax rate environment

Private Companies

Tuesday, 02:00 p.m.  ET | 1 hr
Credits offered: CPE Event language: English

Participants will gain important insights into potential tax code changes and their timing, and they will explore various considerations for responding if the proposals become law.

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Key takeaways

Host: Wendy Diamond, partner, Deloitte Tax LLP
Presenter: Jim Calzaretta, Eddie Gershman, and Jeff Kummer

1 Overview CPE credit | Tax

The Biden administration has proposed a number of tax policy changes, including increasing top income tax rates and introducing base broadeners that could limit or eliminate various existing taxpayer incentives for both individuals and entities. In this uncertain tax rate environment, what are important considerations for private companies and their owners and executives? We’ll discuss:

  • Potential tax policy changes and possible timing
  • Income and wealth transfer tax planning considerations for high net worth individuals
  • Potential tax impacts and planning considerations for passthrough entities

Meet the speakers

Wendy Diamond

Wendy Diamond

US Family Enterprise Leader

Wendy serves as the US Family Enterprise leader. In this role, she works closely with first generation and multi-generational owned businesses and their owners to help them identify and navigate the unique characteristics and needs of family enterprises. Wendy also partners across all of the functions to identify service offerings most relevant to family enterprises. Additionally, she contributes to thought leadership efforts to differentiate Deloitte’s Family Enterprise practice and enhance our brand in the US and global marketplace. Wendy also leads the Private Wealth Tax sector of the Investment Management industry practice. In this role, she works with colleagues nationally to develop and deliver innovative tax offerings related to income, gift, and estate tax planning matters for Private Wealth clients. Her clients include family offices, investment vehicles, closely-held operating businesses, and ultra-high net worth families who have complex investments both in the US and abroad.

Jeff Kummer

Jeff Kummer

Managing Director | Deloitte Tax LLP

Jeff specializes in US tax policy. He oversees a team of tax policy professionals who monitor US tax legislative and regulatory developments to develop articles for Deloitte Tax’s weekly newsletter, Tax News & Views, and in-depth publications on issues such as the US deficit and US tax reform. He also provides insights on these same developments to tax leaders throughout the US. His Capitol Hill experience includes working on tax and budget issues for former US Senator and Senate Finance Committee member Steve Symms, R-Idaho. Jeff is a frequent speaker at Deloitte-sponsored tax and industry events, as well as events sponsored by industry groups such as Tax Executive Institute, American Petroleum Institute, and Financial Executives International. Jeff holds a BS in political science from University of Idaho and an MBA from Johns Hopkins University.

Eddie Gershman

Eddie Gershman

Managing Director | Deloitte Tax LLP

Eddie specializes in tax and financial planning for high net worth individuals, family offices, and C-suite executives. He is the Individual Income Tax Competency technical leader and serves clients in the Private Wealth sector of the Investment Management industry practice. He works closely with Deloitte tax specialists worldwide to track and analyze technical developments and help clients understand and plan for them. Eddie is a frequent speaker at events sponsored by Deloitte and other organizations including the American Institute of CPAs (AICPA) and Money Management Institute. He is a member of the AICPA Individual and Self-employed Technical Resource Panel through which he regularly contributes to The Tax Adviser. He also leads the team that produces the chapters on individual taxation in Deloitte Tax’s annual Essential tax and wealth planning guide. In addition to his tax endeavors, Eddie is active in his community where he has held multiple leadership positions on the Near North Montessori School board of directors and was previously a board member of the Center for Economic Progress.

Jim Calzaretta

Jim Calzaretta

Partner | Deloitte Tax LLP

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.

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Tuesday, 15 Jun 2021 02:00 p.m. ET
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