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James P.Constantino & Vincent L.Teahan

Our guests are founders of “Teahan and Constantino” law firm specializing in tax law and the

related practice area of trusts and estates (wealth planning). They are interested in discussing

these subject areas with students and faculty at KIMEP University, and learning from them about

Kazakhstani tax policy and legal practice regarding family wealth transmission. 

There are short summaries on their lectures. 

14 February, 2014

1.  Lecture 1:  Social consequences of wealth planning:  The initial goal of wealth planning lawyers and accountants is to "increase the family's wealth" over the generations, after taking account of possible tax savings and giving strategies.  But the effect of planning efforts can be paradoxical, in that increased wealth in the hands of young adults can cause them personal problems with, among other things (a) dealing with wealth that they have not earned, (b) parental interference in marital plans, and (c) working with other family members who have also received wealth.  

2.  Lecture 2:  Rationalizing wealth planning:  Wealth can be a special burden to people who do not earn it.  It is much better for a young person to earn his fortune and develop his talents  than to spend time in idleness.  In this, the Words of Abay Qunanbaiuli have much to teach modern planning experts.  We discuss how advisers can help clients give responsibilities to children and young adults so they develop their personal talents and skills, leading to a feeling of usefulness and purpose, and full integration with society at large. 

21 February 2014

1.  INTRODUCTION TO THE FEDERAL COURT SYSTEM IN THE UNITED STATES FOR ADJUDICATING TAX CASES.


The Discussion addresses various related issues including

1) Jurisdiction of the courts
2)  Forum shopping
3)  Weight of authority of previous court decisions
4)  Important factors to consider when evaluating a case for litigation

 2.  INTRODUCTION TO THE EXAMINATION - AUDIT PROCESS FOR US INDIVIDUAL INCOME TAX RETURNS

The discussion addresses how audits are commenced, the representative's power of attorney, important information you (the representative) must get from your client when managing the audit and selected ethical issues concerning the representative's conduct and interaction with the government auditor 

Videos of guests' lecturers: http://www.youtube.com/watch?v=Ll21ogHiV1I 



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