74th Annual Montana Tax Institute

What is a tariff? What distinguishes a tariff from a tax? How are tariffs imposed, calculated, paid, and challenged? This presentation offers an introduction to tariffs primarily explaining the nuts and bolts of determining tariffs, procedures for resolving disputes, and the tax implications of paying tariffs. It will also address current litigation challenging tariffs and give a brief history of the use of tariffs to shape international trade and economic policy.

The recent tax legislation made the most significant changes in the charitable income tax deduction in decades. Almost every taxpayer who makes charitable contributions will be affected, not just the wealthy. The new rules are
complicated, but by acting in 2025, your clients may be able to avoid some of them.

This presentation provides insights on the more nuanced aspects of 1031 exchange transactions. Topics include recurring issues, expansion of what is “like kind” real property, “reverse exchanges” or parking arrangements including construction to suit transactions, and the changes in the 1031 exchange industry through the lens of nearly 50 years in the exchange arena.

This presentation reviews the most recent cases, rulings and regulations promulgated in the area of wealth transfer taxation.  The presentation discusses implications of the developments and it offers estate planning and drafting techniquest in response.

This presentation reviews the most recent cases, rulings and regulations promulgated in the area of wealth transfer taxation.  The presentation discusses implications of the developments and it offers estate planning and drafting techniquest in response.

This current year brings a number of developments in the areas of partnership and corporate taxation. This session
reviews the most significant statutory enactments, judicial decisions, IRS rulings and Treasury regulations promulgated during the last 12 months that affect the domestic income taxation of corporations and partnerships.

This current year brings a number of developments in the areas of partnership and corporate taxation. This session
reviews the most significant statutory enactments, judicial decisions, IRS rulings and Treasury regulations promulgated during the last 12 months that affect the domestic income taxation of corporations and partnerships.

Over the past 28 years, 20 states have enacted asset protection trust statutes. As a result, creditor protection has become mainstream. Not only statutory asset protection trusts, but also other types of creditor protection trusts, such as special power of appointment trusts, hybrid-DAPTs and SLATs, have grown dramatically in popularity in recent
years. Many clients choose to make transfers to these trusts completed gifts for federal estate tax purposes so that the transferred assets, and the growth and income on those transferred assets, will be excluded from their estates for federal estate tax purposes at death. This session will look at the requirements – and the potential challenges – associated with making a completed gift to various forms of creditor protection trusts.