Seminar Course Description

Advanced Tax Strategies for LLCs and Partnerships

Locations

CITY STATE DATES OFFERED STATE SOCIETY WEBSITE
Phoenix Arizona Nov 05, 2019 ASCPA
Atlanta Georgia Aug 13, 2019 GSCPA
Louisville Kentucky Nov 07, 2019 KYCPA
Baton Rouge Louisiana Nov 05, 2019 LCPA
Bloomington Minnesota Jun 12, 2019 MNCPA
Missoula Montana Oct 28, 2019 MSCPA
Ashland Nebraska Nov 18, 2019 NESCPA
Roseland New Jersey Dec 20, 2019 NJCPA
Charlotte North Carolina Oct 16, 2019 NCACPA
Tulsa Oklahoma Nov 12, 2019 OSCPA
Brentwood Tennessee Dec 09, 2019 TSCPA
Dallas Texas Jul 15, 2019 TXCPA
Austin Texas Jul 24, 2019 TXCPA
Houston Texas Aug 21, 2019 TXCPA
Salt Lake City Utah Nov 26, 2019 UACPA
Fairfax Virginia Oct 23, 2019 VSCPA

What works best for your client? Learn the pros and cons of the LLC, General Partnership, Limited Partnership, and Limited Liability Partnership by focusing on planning and potential tax traps. A review of distinct advantages of these entities is coupled with an examination of the risk members and partners face if they do not have a solid tax plan to minimize their exposure. In addition, we will explore some of the more intricate rules and regulations of these entities so you can move your working knowledge of partnership and LLC taxation beyond the basics. Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.

Learning Objective

When you complete this course you will be able to:

  • Allocate income, gain, loss, and deduction among partner/members to reflect their agreed-upon interests properly in partnership or LLC economic activities.
  • Assess the risks taken by investors with respect to their investment in a partnership or LLC and allocate the entity’s liabilities accordingly.
  • Determine the consequences of selling a partnership or LLC interest.
  • Calculate the basis of partnership or LLC following distributions of multiple properties.
  • Plan for the effects of a distribution of multiple properties.
  • Make elections to protect partners and LLC members from unwelcome future consequences arising from current distributions, sales, and/or transfers of interests in the partnership.

Topics Dicussed

  • Allocation of partnership and LLC income under Section 704(b)
  • Allocations with respect to contributed property
  • Allocation of partnership recourse liabilities under Section 752
  • Allocation of partnership nonrecourse liabilities and related deductions under Sections 752 and 704(b)
  • Advanced distribution rules
  • Adjustments to the basis of partnership/LLC assets
  • Sale of an interest in a partnership or LLC
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COURSE CODE

DTT

FIELD OF STUDY

  • Taxation

CPE CREDIT HOURS

8

KNOWLEDGE LEVEL

Advanced

INTENDED AUDIENCE

Managers and partners in public accounting who assist clients with tax planning for closely held LLCs and partnerships

PREREQUISITE

Basic knowledge of business taxation

ADVANCED PREPARATION

None

DELIVERY METHOD

Group Live, Self-Study Text

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Contact State Societies for Public Seminar Pricing and Additional Information

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