June 19, 20, & 21, 2012

WEDNESDAY, June 19, 2013
8:30 a.m. - 10:00 a.m. Don't End Up as Road Kill: Surviving Ethical Challenges in Family Transfers - This will be a review of the important ethical rules that may have an impact in transfers among family members. Among the ethical rules to be covered in the discussion are competence, confidentiality of information, communications, conflicts of interest, representing clients with diminished capacity, acting as a fiduciary, the fiduciary exception and a lawyer acting as a witness. A series of hypotheticals will be presented to illustrate some of the rules that are discussed. Charles (Skip) D. Fox, IV
9:15 a.m. - 11:45 a.m. Your Best Charitable Giving Techniques for 2013 - In the face of permanent estate and gift taxes, a new 3.8% tax, higher income tax rates, and continued low interest rates, charitable planning continues. Some clients are highly eleemosynary goals whereas others want to "do well by doing good." This presentation will discuss the best charitable giving ideas and techniques for many of our different clients in the 2013 planning environment when much has changed but much remains the same. Ideas discussed will be diverting trust income to charity for tax planning purposes, conjuring up income tax deductions from homes and farms, integrating estate and charitable planning, and preserving flexibility to the greatest extent possible in all of our planning. Turney P. Berry
1:00 p.m. - 2:30 p.m. Current Estate and Gift Tax Developments - A discussion of recent cases, rulings, regulations and legislation pertaining to or affecting estate planning, with a focus on their significance in day-to-day planning. Professor Jeffrey N. Pennell
2:45 p.m. - 4:00 p.m. Non-Reciprocal Spousal Trusts and Other Planning Techniques - This session will explore methods for taking advantage of the higher gift tax exemption which allow the donors to continue to enjoy benefits from the gifted property. Particular emphasis will be given to trusts that benefit the spouse of the donor, including trusts established by both spouses for the benefit of each other. Bryan Howard
4:15 p.m. - 5:15 p.m. What Do You Do Now? Estate & Gift Planning After Permanent Reform - Following a decade of constant change, the American Taxpayer Relief Act of 2012 made permanent and dramatic changes to the estate, gift and generation-skipping transfer tax laws. A panel discussion examining planning considerations under the new regime. Panel Discussion:
C. Fred Daniels, Leonard Wertheimer, III,
and Anna Funderburk Buckner
THURSDAY, June 20, 2013
8:30 a.m. - 10:00 a.m. Federal Income Tax Developments - A review of significant administrative and judicial developments over the past twelve months and the status of congressional tax proposals. Ira B. Shepard
10:15 a.m. - 11:45 a.m. Employee Stock Ownership Plans (ESOPs) as a Business and Tax Planning Vehicle - Employee Stock Ownership Plans (ESOPs) are popular forms of deferred compensation plans and can be effective tools for business succession, and estate and retirement planning. ESOPs provide tax advantages for the business owner seeking to plan for retirement while retaining control of the business. Structured properly, ESOPs can enhance the company's liquidity, preserve working capital, reduce a business owner's income tax burden, provide the business with tax deductions and offer tax deferred income to employees. Kelly O. Finnell
12:00 p.m. - 1:15 p.m. Luncheon Provided by AIFT by reservation ONLY  
1:15 p.m. - 2:30 p.m. From Audit Through Appeals to Litigation: What You Need to Know Now. - Using a backdrop of the hottest issues for closely-held companies and their owners, we will focus on the dangers you and your client face - and more importantly, the strategic opportunities for getting the best possible result. We will cover Section 7491 burden of proof, document production and defenses, the ability of the POA to handle interviews under Section 7521(c), the choice of going to Appeals by way of protest vs. petition, Appeals letter briefs, choice of trial forum and circuit, deciding how detailed your petition should be, the use of experts and, time permitting, trial and briefing. David D. Aughtry
2:45 p.m. - 4:00 p.m. New Developments in Taxation of Compensatory Income in PassThrough Entities and the Net Investment Income Tax - Mr. Keatinge will discuss recent case law and statutory developments in the taxation of partners and S corporation shareholders who provide services to their entities and the new Net Investment Income tax that came into effect on January 1, 2013. Robert R. Keatinge
4:15 p.m. - 5:15 p.m. Recent Developments in Alabama Taxes-Legislative, Judicial and Administrative - The speakers will provide their somewhat differing perspectives on recent developments in Alabama tax law and policy, including legislative, judicial and administrative developments and some predictions for the future both at the state level and in Congress. Panel Discussion:
Joe W. Garrett, Jr., Curtis E. Stewart
and Bruce P. Ely
FRIDAY, June 21, 2013
8:30 a.m. - 10:00 a.m. Taxation of Litigation Settlements and Judgments - Resolution of litigation raises a host of tax considerations, ranging from inclusion of settlement or judgment proceeds in gross income, the deductibility of damage awards, the treatment of legal expenses, and reporting obligations. This presentation will address many of these tax issues, including those related to physical injury awards, tort recoveries, employment cases, fines or penalties, and W-2s and Forms 1099. Jody J. Brewster
10:15 a.m. - 11:45 a.m. An Introduction to Conservation Easements for Tax Professionals - The purpose of the class is to provide tax professionals with basic information on conservation easements, including what they are, how, when and where they are used, and IRS rules and regulations governing charitable donations of conservation easements, including recent legislative changes. Katherine Eddins