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LLC Rules Changes Guide 2024

Get Up to Date on LLC Changes and Avoid Costly Missteps

Division
NBI (98123)
Event Date
03/06/2024
Event Time
10:00 AM - 5:00 PM EST
Event Planner
Nicole Vandermoss
Email
nicole.vandermoss@nbi-sems.com
Phone
(715) 835-8525

Program Description

Get Up to Date on LLC Changes and Avoid Costly Missteps

LLCs are evolving rapidly to adapt to the new tax and privacy laws and to take advantage of the latest in blockchain technology. Are you confident you're providing the most effective, up-to-the-minute advice? Hear the latest on LLC entity choice, formation, operation, and dissolution. Let us equip you with best practices for drafting and reviewing operating agreements. Register today!

  • Hear about the latest federal laws changing the way LLCs are used.
  • Address key operating challenges including data privacy and security.
  • Get an update on the key tax changes affecting LLC formation and operation.
  • Come away with a list of recommended new OA changes to keep the LLC protected.

Who Should Attend

This LLCs legal update is designed for attorneys. Accountants, tax professionals, fiduciaries, directors, and paralegals will also benefit.


Course Content

  1. Federal Laws Update
  2. What's a WY DAO LLC? Decentralized Autonomous Organizations
  3. Tax Planning Updates
  4. Current Operating Issues: Data Security, Transfer of Interests, Members' Rights
  5. Asset Protection and the Latest State Case Law
  6. Revising Operating Agreements: What to Look For
  7. Legal Ethics in LLCs Practice

Agenda / Content Covered

All times are shown in Eastern time.
  1. Federal Laws Update
    10:00 - 10:45, Neal B. Jannol
  2. What's a WY DAO LLC? Decentralized Autonomous Organizations
    10:45 - 11:15, Michael J. Gorby
  3. Tax Planning Updates
    11:15 - 12:15, Neal B. Jannol
    1. Qualified Small Business Stock Deduction Planning
    2. Real Estate Issues: Limits on Like-Kind Exchanges, CTA Disclosures, etc.
    3. Carried Interest Rules and Planning
    4. The Latest IRS Enforcement and Guidance
      1. Tax Treatment of LLCs
      2. Tax Treatment of LLC Members
  4. Current Operating Issues: Data Security, Transfer of Interests, Members' Rights
    12:30 - 1:30, Noel D. Humphreys
    1. Evolving Data Security Obligations and Problems
    2. Digital Assets and Cryptocurrency Transaction Reporting
    3. Transferability of Interests Rules
    4. Members' Rights
    5. Dissolution and Termination
  5. Asset Protection and the Latest State Case Law
    2:00 - 2:45, Gary A. Forster
  6. Revising Operating Agreements: What to Look For
    2:45 - 3:45, Noel D. Humphreys
  7. Legal Ethics in LLCs Practice
    4:00 - 5:00, Neal B. Jannol
    1. Engagement Agreements, Attorney Fees, and Client Trust Accounts
    2. Conflicts of Interest: Business vs. Member
    3. Conflicts of Interest Firm Ethical Wall
    4. Conflicts of Interest Waivers
    5. Guarding Confidentiality

Materials Due Date: 01/31/2024


Event Materials Support

Email: eventmaterials@nbi-sems.com

Phone: (800) 777-8707



Gary A. Forster is managing partner and co-founder of ForsterBoughman. His practice spans 30 years and includes domestic and international corporate law, asset protection, tax and estate planning. Mr. Forster handles a variety of corporate and personal planning matters for business leaders and wealthy families. Gary writes and speaks nationally on tax, corporate and international topics and is the author of three books. In 2013, he wrote Asset Protection for Professionals, Entrepreneurs and Investors, a guide to asset protection strategies for clients and their financial advisors, now in its second edition. In 2020, Mr. Forster finished the second edition of The U.S. Estate and Gift Tax and the Non-Citizen, which explains how resident and non-resident foreign nationals are impacted by the U.S. Estate and Gift Tax. In 2021, he wrote The U.S. Wealth Transfer Tax and the Non-Citizen, a law school textbook. Mr. Forster's legislative amendments were adopted as Section 43A of the Nevis LLC Ordinance - Nevis Limited Liability Company (Amendment) Ordinance, 2015. Gary earned his B.A. degree from Tufts University, graduating cum laude with majors in economics and Spanish literature. Mr. Forster earned his J.D. degree from the University of Florida College of Law, graduating with honors. He continued his studies as a graduate fellow at the University of Florida College of Law, Master of Taxation program, earning an LL.M. degree in taxation. Mr. Forster's education also includes studies at the University of Madrid, Oxford University and Leiden University in the Netherlands. He is a member of The Florida Bar and District of Columbia Bar, including bar sections for international and tax law. Mr. Forster is licensed to practice before the U.S. Tax Court, and is a member of the American Bar Association Asset Protection Planning Committee. Gary speaks Spanish fluently.

Michael J. Gorby is a founder and partner with Gorby Peters & Associates, LLC. He is a nationally recognized leader in complex corporate disputes, professional negligence cases, and liability issues that arise for property owners and managers, such as hotel chains, restaurants, shopping centers, apartment complexes, office buildings and other public venues. Since 1998, Mr. Gorby has served as the program chair for the Institute of Continuing Legal Education in Georgia (an affiliate of the University of Georgia), on the topic of premises liability. He is also the author of a popular legal treatise, Premises Liability in Georgia, which is published by Thomson Reuters/West, and which is now in its third edition. Mr. Gorby serves as an instructor/lecturer for Georgia Tech Procurement Assistance Center (GTPAC) in the area of procuring government contracts, and is also a registered mediator. He earned his B.A. degree from Georgia State University and his J.D. degree from the University of Georgia School of Law.

Noel D. Humphreys is of counsel with Connell Foley LLP, where he limits his practice to business transactions, lending transactions, organizational governance and intellectual property. Mr. Humphreys is admitted to practice law in New Jersey and New York, and before the U.S. District Court of New Jersey and the U.S. District Court of New York (Eastern and Southern). He earned his B.A. degree from DePauw University, his M.S.J. degree from Columbia University and his J.D. degree from Harvard University.

Neal B. Jannol is a sole practitioner in Los Angeles at the Law Office of Neal B. Jannol. He has been an attorney for more than 20 years, and concentrates his practice on sophisticated estate and tax planning for individual clients, the representation of individual and corporate fiduciaries, and the administration of estates and trusts. Mr. Jannol's experience includes drafting revocable and irrevocable trusts, business succession planning, premarital planning, charitable gift planning, and all aspects of estate administration and probate procedures. He is a member of the State Bar of California. Mr. Jannol earned his B.A. degree, magna cum laude, from the University of California at Los Angeles and his J.D. degree from the University of California at Berkeley, Boalt Hall School of Law.

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Event Materials Support

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Phone: (800) 777-8707


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