Description

Qualified Small Business Stock (QSBS) under Section 1202 is not just for tech companies anymore. It’s time to reconsider QSBS because the new tax act has paved the way for closely-held companies to benefit “bigly.” QSBS provides an exciting array of benefits (and a surprising alternative) for owners of new and pre-existing business (large and small): (i) 100% gain exclusion on sale; (ii) tax-free rollover of gains; and (iii) a chance to “stack” (multiply) and “pack” the exclusion by 10 times (maybe more). While the benefits of QSBS are straightforward, the qualifications and questions surrounding QSBS planning are far from it. This presentation will discuss planning opportunities, unanswered questions, potential pitfalls, and best practices in the quest for quantum QSBS exclusions.

Learning Objectives:

1. Why is the time finally right for QSBS? What has changed since its enactment?
   
2. Basic elements and qualifications of QSBS.
   
3. Planning to maximize QSBS exclusions.
   
4. Common mistakes and pitfalls.
   

Speaker(s):

• Paul S. Lee, J.D., LL.M. (Taxation), Global Fiduciary Strategist, Northern Trust Company