Federal Tax Updates: Key Rulings, New Legislation, and Strategic Planning for 2025
From: $179.00
Duration: 120 Minutes
Description:
Join us for an in-depth exploration of the latest updates in federal tax law, with a focus on key rulings, new legislation, and actionable strategies for planning in 2025.
We’ll begin with a detailed analysis of the recent Soroban Capital Partners LP v. Commissioner ruling (T.C. Memo. 2025-52), which clarified the application of the limited partnership exception to self-employment tax. This decision shifts the spotlight to service partnerships (SPs)—a growing area of concern for tax professionals. During this session, we’ll dive into the pros and cons of service partnerships and how to effectively navigate this complex landscape.
In addition, we will review the One Big Beautiful Bill (OBBB) Act passed in July, which brings significant changes to various exemptions and thresholds. We will break down these updates and discuss how they impact your planning strategies.
The webinar will conclude with an analysis of how the OBBB Act enhances the IRC § 1202 Qualified Small Business Stock (QSBS) exclusion, including practical tactics for leveraging this exclusion to maximize tax savings.
Key Takeaways:
Understanding the Soroban Capital Partners Ruling: Unpack the latest ruling on self-employment tax exceptions for limited partnerships and the shift toward service partnerships.
Service Partnerships (SPs) – A Deeper Dive: Evaluate the advantages and disadvantages of service partnerships and how to plan accordingly.
OBBB Act Insights: Learn about significant changes introduced by the One Big Beautiful Bill, including updated exemptions and thresholds.
Maximizing QSBS Exclusion under IRC § 1202: Explore the enhanced provisions under the OBBB Act, and discover strategies to use the QSBS exclusion effectively.
Learning Objectives
By the end of this webinar, participants will be able to:
Interpret the Limited Partner Exclusion under IRC § 1402(a)(13):
Evaluate the scope and limitations of the self-employment tax exclusion for limited partners, particularly in light of recent case law such as Soroban Capital Partners LP v. Commissioner.
Utilize Service Partnership Structures Strategically:
Outline planning techniques that leverage service businesses and IRC § 736(a)(1) to reduce exposure to self-employment and net investment income tax under IRC § 1411.
Identify Key Changes in Tax Provisions from the OBBB Act:
List and analyze the updated thresholds and limits affecting:
Estate tax exemption
20% Qualified Business Income (QBI) deduction
IRC § 179 expensing
Bonus depreciation rules
Business interest expense deduction under IRC § 163(j)
Opportunity Zones and related incentives
Apply the Enhanced IRC § 1202 Exclusion for QSBS:
Evaluate recent changes to the Qualified Small Business Stock exclusion under the OBBB Act and identify strategies to maximize this powerful capital gain exclusion for clients. considerations.
Credits and Other information:
Recommended CPE credit – 2.0
Recommended field of study – Taxes
Session Prerequisites and preparation: None
Session learning level: Update
Location: Virtual/Online
Delivery method: Group Internet Based
Attendance Requirement: Yes
Session Duration: 2 Hours
Who Will Benefit:
CPA
Enrolled Agents (EAs)
Tax Professionals
Attorneys
Other Tax Preparers
Finance professionals
Financial planners
Burton Financials is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
About Our Speaker
Steve Gorin, CGMA, CPA, J.D.
Steve has drafted trusts and a full range of estate planning documents for clients to help grow, preserve, and transmit their family wealth. He has also prepared organizational documents for limited liability companies, corporations, and partnerships to implement their owners’ wishes regarding current and future control and transmission, including bringing in new owners and facilitating exit strategies.Steve enjoys helping clients structure their affairs to achieve their personal, business, and financial goals while reducing the drag that taxes imposed on them. His firm provides full service to businesses; however, he also acts as counsel on specialized matters while cooperating and facilitating the continued involvement of an existing legal, accounting, and financial services team. Steve maintains his CPA license but prefers to refer income tax returns to practicing CPAs.
