Tax

Understanding the new net investment income tax

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Watch On-Demand

The recently finalized net investment income tax will have a significant impact on asset managers and their investors.

Managers need to understand the mechanics of the new tax, as well as the additional reporting and planning necessary.

Hosted by EY's Global Asset Management Center, the webcast will cover issues of particular interest to the alternative asset management industry.

Our panel of senior industry professionals will discuss the following topics related to the net investment income tax:

  • Differences between proposed and final regulations
  • Issues related to the 2013 tax compliance processTax planning considerations

 

 

Panelists:

Dave Racich

Ernst & Young LLP

David is a Partner in the Financial Services Office at Ernst & Young LLP located in New York. He has 15 years of experience and specializes in providing tax advisory and compliance services to domestic and offshore hedge funds, private equity funds, registered funds and their respective investment advisor affiliates. David’s technical experience includes partnership, corporate and individual taxation with a broad knowledge across international and state and local tax.

David’s industry experience includes domestic and international structuring, advising on the taxation of derivatives and portfolio trading strategies, tax allocation methodologies, federal and cross border transaction evaluation and investor reporting.

William E. Hartwig

Ernst & Young LLP

William E. Hartwig is a Senior Manager in the Personal Financial Services practice at Ernst & Young LLP. Bill serves as the primary contact on various tax compliance and planning engagements involving individuals, trusts, estates, gifts and entities. He serves as one of Ernst & Young LLP’s national specialists in trust matters, including responsibility for training and consulting on income taxation and compliance issues.

Prior to joining Ernst & Young LLP, for over ten years, Bill was the Senior Manager of J.P. Morgan’s Private Wealth Management tax function responsible for the annual processing over 18,000 individual, trust, charitable and estate tax returns for the Midwest and Northeast regions. In his capacity, he was responsible for analyzing the aspects of income and transfer tax reporting on hedging strategies and derivative financial instruments.

Seda Livian

Ernst & Young LLP

Seda Livian is a Senior Manager in the Financial Services Office at Ernst & Young LLP. Seda has over ten years of experience in the financial services industry in the areas of audit and taxation. Seda has extensive experience in the taxation of financial products, including equity, debt and derivatives. She consults on formation and cross border transactions strategies tax planning for multinational asset managers, as well as assisting with state, local tax planning. Seda has extensive experience in partnership allocations and reporting requirements as they relate specifically to hedge and private equity funds.

Seda serves as a member of the Ernst & Young LLP Financial Services tax technical committee and has submitted formal comments to the U.S. Treasury Department on matters impacting the fund industry. She actively authors thought leadership articles distributed to our clients on topics relevant to asset managers.

Moderator:

Joseph Bianco

Ernst & Young LLP

Joseph Bianco is a Principal in the New York Financial Services Office of Ernst & Young LLP. Joe has over 18 years of experience at Ernst & Young LLP focusing on asset management clients and is the Technical Leader of our Financial Services Asset Management tax practice.

Joe’s experience includes significant involvement at both the fund and fund manager level with structuring, strategy development, tax planning, transaction due diligence and offshore and cross border issues, as well as coordinating and supervising our delivery of tax compliance services. Joe is a frequent instructor at Ernst & Young LLP seminars dealing with the taxation of financial products and investment partnerships.