Seyfarth to Sponsor and Ofer Lion, Douglas Mancino, and Steve Meier to Speak at 61st Annual Hawaii Tax Institute

Seyfarth Shaw LLP is a sponsor of the 61st Annual Hawaii Tax Institute taking place November 3-7, 2024 in Honolulu, Hawaii.

Ofer Lion, co-chair of the firm's Tax-exempt practice, will be presenting "Update on Tax Exempt Organizations and Charitable Giving" on November 6. During this session, attendees will learn about the latest trends and tax developments in tax exempt organizations and charitable giving. It will also analyze public policy and illegality issues (abortion and the Dobbs case, psychedelics and their churches, public and private universities and affirmative action), the latest from the IRS and the courts on charitable contribution substantiation and appraisal regulations, the continuing battle of DAF regulations, change in treatment of private foundation grants to DAFs, gifts of crypto, NFTs and carried interests, Patagonia, Newman’s Own and other “boomer business” succession planning and much more.

Douglas Mancino, co-chair of the firm's Tax-exempt practice, will be presenting "Sweet Home Alabama: Creative Strategies to Use and Pitfalls to Avoid when Gifting Real Estate to Nonprofits" on November 9. Some of the largest gifts to nonprofit organizations are illiquid assets such as real estate. This session will address how to best advise your charitably-minded clients on the various gifting strategies for real estate while also helping them to maximize tax savings and achieve their philanthropic goals. It will also discuss how nonprofit organizations can accept real estate gifts while minimizing potential risks of illiquid assets donations. 

Steven Meier, chair of Seyfarth’s Corporate Department and co-chair of the firm’s Tax Practice will be presenting "Qualified Opportunity Zones: Tax Benefits and Planning" on November 6. The Tax Cuts and Jobs Act (TCJA) created a significant new economic development tool alongside a meaningful tax deferral and abatement mechanism, “qualified opportunity zones.” The new provision provides a flexible deferral mechanism for short and long term capital gains for current investments in nearly all asset classes. This session will explore how businesses, projects, and commercial property in eligible low-income census tracts attract financing and what could amount to a substantial long-term subsidy for economic development. This session will also explore strategies to defer current capital gains, significantly increase basis in their current investments, and abate all future capital gains on the investment.

Alan Yoshitake, chair of Seyfarth’s Trusts & Estate practice, also serves on the Hawaii Tax Institute Advisory Committee.