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2017 Tax Reform for Individuals: Winners and Losers
Produced on December 14, 2018
Course Information
Course Description
This course provides a general overview of some of the effects of the 2017 Tax Reform Act on individuals, such as the deduction limitations for state/local taxes (SALT) and mortgage interest, the new 20% pass-through business deduction, and certain benefits for investments in so-called “qualified opportunity zones”. The discussion covers some proposed Treasury Regulations and other guidance over the past year that have expanded upon the new legislation.
The program, led by attorney Libin Zhang, will take a look at some suggested taxpayer strategies that have been rejected by the Treasury, and other strategies that may be successful moving forward.
Learning Objectives:
- Identify the effects of the new tax law on individuals
- Analyze some state responses to the SALT deduction limitation, and the Treasury counter-responses
- Gain an overview of the 20% pass-through business deduction, and the types of businesses that the Treasury has identified as qualifying or not qualifying for the deduction
- Discuss the tax benefits for investments in qualified opportunity zones
- Explore potential personal tax planning and other considerations to maximize the benefits of the new tax law, such as creating trusts
Credit Information
Faculty
Libin Zhang
Fried Frank Harris Shriver Jacobson LLP
Libin Zhang has been a partner at Fried Frank since 2019. He was previously a partner at the tax boutique of Roberts & Holland LLP. He works on a variety of matters relating to corporations, real estate, and international taxation. Recent publications include:
- Marginal Income Tax Rates of the Passthrough Business Deduction, Tax Notes (May 21, 2018)
- Qualified Opportunity Zones: Hot Tubs and Other Hot Topics, Tax Notes (August 6, 2018)
- Links to the Past: Old Exceptions to New Interest Deduction Limitations, Tax Notes (January 21, 2019)
- The Life-Changing Magic of Tidying Up Partnerships, Tax Notes (March 11, 2019)
- Clearing the Air About Marijuana in Qualified Opportunity Zones, Tax Management Real Estate Journal (April 3, 2019)
He received his B.S./M.S. joint degree with honors from the California Institute of Technology, his J.D. magna cum laude from Harvard Law School, and his LL.M (Taxation) from New York University. He has passed the Chartered Financial Analyst (CFA) Level III exam.
Reviews
Very clearly presented and helpful. The presenter did a great job.
Thanks
Good job.
The presenter did a great job of boiling down the law to key provisions discussed.
lots of good information presented in organized manner
Nice presentation, with relevant examples.
one of the best.
Great course.
Excellent course
Well done! Thank you
Very interested in Puerto Rico opportunity zone
Good speaker. Very likable and knowledgeable. Could be a four hour course with the information provided.
Informative
Made a complicated subject easy to understand.
Excellent
Good slides
Good summary
Concise. Informative. Highly recommended.
Very Helpful and accessible.
Very informative; the presenter was very knowledgeable.
Very well done
Excellent course
Excellent presentation. Good speed and teaching style.
Really important.
Tax is very relevant and interesting.
He’s very good!
Good overview :)
excellent
I appreciate the transcript of the course. Thank you.
this was great!
One of best presentations I've listened to.
Lipon (instructor) was really good in delivering the content and should be doing more of these. I heartily recommend his courses, he has a natural talent for educating others in sometimes arcane tax law.
grreat
good
very informative
Good basic summation of tax code revisions for individuals.
Great
very helpful.
The instructor was thoroughly knowledgeable and provided interesting background as to the IRS rationale for some of the changes to the Code.
provided a clear understanding of the subject matter.
good course
Covered a lot of material in a thoughtful, easy to understand way. Strongly recommend.
good
Easy to follow
Goaded my thinking, going to do personal research to answer some follow-on questions. Stimulating presentation, including wry humor.
Excellent content and presentation!!
very informative
Excellent, clear and precise presentation
Excellent presentation
Lots of practical information---I especially liked the discussion of the revised business deduction rules.
Great presenter.
strong communicator to both tax lawyers and, I'm sure, to other lawyers
Excellent overview!
Excellent Explanation of 2017 Tax Law
Good overview and well presented
Very engaging and funny commentator made tax law enjoyable!
good presentation
Enlightening.
Helpful both professionally and personally.
Helpful for non-tax lawyer
Good overview.
Excellent presentation of developing area of law.
material about marriage/divorce particularly interesting
Helpful!
Helpful!
Good seminar. Interesting that the new tax law encouraged divorce and discourages marriage in certain situations.
Great overview of the tax code overhaul. Thank you.
Good overview of the TCJA.
Mr. Zhang knows his stuff - very informative and helpful. Well done!
Very well done
Good program
Provided good examples for attorneys to consider in practice under new law.
Efficient coverage of the new law
Very informative and easy to follow. Wish the presentation had been twice as long!
Good speak.er who simplifies and explains many complex issues
So glad I found this course!
Great presentation!
Very thorough presentation. Well done.
very informative
This presenter was amazingly smart!
Well done good presentation, good speaker. Thank you
Excellent program. Well delivered.
very useful information
Excellent
Speaker is brillant. Subdued. Well delivered.
The program provided an excellent overview of some of the impacts of the TCJA on individuals.
Wonderful presentation. Very clear and informative. Among the best I've seen.
good
One of best programs you offer. Speaker knowledgeable and understandable in a incredibly technical tax area. Great program
Very good
Very informative program.
good
Great summary materials of complicated law. Thanks.
Very practical and easy to understand presenter.
good information
This was a good overview of certain provisions of the 2017 Tax Law.
I learned a lot
Excellent update on the new tax law.
Thank you!
Great synopsis of some of the changes in the new law. Very informative.
Great presentation.
Great presentation and speaker
Great seminar-- very timely.
Good job
Good PowerPoint
He was very thorough and slides were helpful.
Good general overview.
great presentation
Very useful
Speaker was very knowledgeable with the new rules and provided relevant examples. I thought it was an excellent course.
Really dense And smooth
Great over site of the Tax reform
This is one of the best and most organized reviews of the most common issues that tax preparers will see this coming year. Thanks!
Good speaker.
Great practice tips.
excellent lecturer; knows his stuff
I'm not a tax practitioner. I watched this mostly for my own information in advance of tax season this year and I found it useful for that purpose.
Great overview!
Good presenter.
Excellent overview of new tax law.
Excellent overview.
good one
Clearly presented. Useful, informative course.
Thank you!
Very informative.
Clear, concise, well done.
I'm not a tax professional but found some of the information informative and potetentially useful nonetheless!
Tremendous. Great summary, very useful