FRA’s annual event will return December 6-7 in Miami with the latest updates and best practices on effective tax and accounting strategies. In addition to a keynote address and ample networking opportunities, this year’s agenda features panel sessions between industry specialists and thought leaders who will discuss the most pressing topics in the industry. Here’s your inside look at their areas of focus.
Tailored for both private equity and hedge funds, The Private Investment Fund Tax & Accounting Forum will connect tax and accounting firms, fund administrators, attorneys with fund clients, portfolio companies, and funds from around the country. The two-day event, held December 6-7 at the Novotel Miami Brickell, will cover everything related to safeguarding funds from costly tax legislation misinterpretations as well as thriving in an ever-changing environment.
Here's a look at the timely panel discussions we’re excited to hear:
Reporting issues for investment partnerships: The panel will review Section 163(j) reporting for tiered partnership interests, new reporting requirements under the Corporate Transparency Act, and how to navigate the increased international reporting on Schedules K-2 and K-3. Panelists will include Maury Cartine, managing director, Prospect Capital, and Mark Leeds, partner, Mayer Brown.
State and local tax issues for investment management companies: The discussion will focus on state legislation for bypassing the $10,000 limitation for the state and local tax deduction, State Income Tax Apportionment Rules and a review of New York and New Jersey’s new regulations, NYC’s enforcement efforts against management companies, and hot topics in state personal income tax residency and income allocation. Timothy P. Noonan, partner, Hodgson Russ, LLP, and Stacey Roberts, state and local tax director, TaxOps, will lead the discussion.
Crypto Update: Unpacking Changes on the Horizon: Shehan Chandrasekera, head of tax strategy, CoinTracker, and Chris Kotarba, managing director, Alvarez & Marsal, will lead a discussion on IRS Guidance such as cryptocurrency staking and if it’s taxable upon reward, how to manage brokers who control stocks and mutual funds, and how to mitigate issues related to effectively connected income.
Tax Considerations for Foreign Investors: Michael Miller, Esq., partner, Roberts & Holland will conduct an analysis on Controlled Foreign Corporations Subpart F and GILTI inclusions, the effects on foreign and domestic investors—trade or business vs trader activities, withholding obligations and reporting issues, and dealing with passive foreign investment companies.
Update on management fees and carried interest: Panelists will talk about the intricacies of holding periods stipulated by Section 1061, the significance of Qualified Capital Interests, and how carry waivers influence the allocation of taxable income. The panel will include Michael Spiro, partner, Finn Dixon and Herling LLP, and Morgan Klinzing, tax partner, Troutman Pepper.
Year-end tax planning: The panel will discuss elections to mitigate adverse tax consequences, ideas for management companies and funds, and how to harvest losses. Irina Kimelfeld, tax partner, EisnerAmper, will lead the session with panelists George Teixeira, partner and tax leader, Anchin, and Philip Gross, partner, Kleinberg Kaplan.
SEC new rules reviews and implementation: The session will spotlight performance measures including Quarterly Reporting rules, reform and compliance changes within the private fund industry, and third-party verification such as independent audits. Paul J Foley, partner, chair, investment management practice, Akerman LL, will lead the session.
Addressing family office challenges and best practices: This session will explore the unique financial and operational challenges faced by Family Offices, the investment management opportunities and analysis, and how to navigate through technology solutions for increased transparency. Phil Strassler, founder, The Larry Kraus Family Office Tech-NEW-logy Institute, will lead the session with speaker Jared Feldman, partner, Anchin.
Standards and updates for effective audits: This session will give an audit update, analyzing how the frequency of audits will likely increase and procedures for third-party verification. Miri Forster, partner and tax controversy leader, Eisner, will lead the panel.
Best practices for cybersecurity adoption policies: Throughout the discussion, panelists will talk about safeguarding against the growing wave of cyber threats, ways to implement AI in your cyber defense plans, and how to determine whether cybersecurity insurance is necessary. The panel will include Erica England, chief financial officer, The Wolcott Organization, and Justin Headley, senior manager, Warren Averett
Establishing offshore investment funds in the Cayman Islands: This session will focus on the unique challenges of opening an investment fund in the Cayman Islands. Matthew Taber, partner, Harneys, will discuss reporting and auditing requirements as well as exemptions and registration with CIMA to establish a new fund.
The Private Investment Fund Tax & Accounting Forum will take place December 6-7 at Novotel Miami Brickell. For more information, including registration information, the full agenda, and more, click here.