Special Topics In Partnership And LLC Taxation

Course Details

Date

Wednesday, October 23, 2019

5:30am – 1:00pm
(Registration: 5:00am)

Field of Study

Taxation

Course Number

4193127D

CPE Credit

8.0 hours CPE credit

Level of Knowledge

Intermediate

Vendor

CalCPA Education Foundation

Prerequisites

Three years of relevant experience or an understanding partnership and LLC taxation.

Description

Tax practitioners struggle to understand the rules of Subchapter K of the Internal Revenue Code and related Treasury Regulations. Complex rules offer both tax planning opportunities as well as traps. Join an in-depth analysis of key partnership tax issues with an emplasis on how they affect partnership structuring and the reporting of partnership results.

Materials are provided as an ebook.

Highlights

  • Partnership/LLC formations (IRC Sec. 721)
  • Income/loss allocations (IRC Sec. 704(b))
  • Allocations related to property with a tax-book difference (IRC Sec. 704(c))
  • Partnership/LLC distributions (IRC Secs. 731-732)
  • Partner's tax basis and the impact of debt (IRC Sec. 752)
  • Inside basis adjustments (IRC Sec. 754)

Objectives

  • Identify fundamental tax planning opportunities and risks related to partnership contributions and distributions.
  • Recall the rules for testing partnership allocations under the partner's interest in the partnership test versus the substantial economic effect regulations.
  • Determine differences between partnership recourse and nonrecourse debt and the consequences of each.
  • Select the best method for making mandatory allocations relating to Section 704(c) property.
  • Determine how to apply the inside basis adjustment rules rules.

Designed For

CPAs, attorneys, tax practitioners and financial professionals.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$245.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$375.00
Your Price $375.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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