Limited Liability Companies: Losses, Liquidations, Terminations, Continuations, and Sales

Description

LINK AND INSTRUCTIONS TO COME FROM HSCPA ONE DAY PRIOR TO SESSION

The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.

Highlights

• When are distributions taxable?
• Miscellaneous issues, including the critical difference between §736(a) and §736(b) payments
• Sales of an LLC interest - holding period and hot asset issues

Objectives

• Identify when distributions are taxable, including disguised sales and the tax on pre-contribution gain
• Discuss the tax consequences of a liquidation of a partner's interest
• Describe the options when a partnership terminates or continues following an acquisition or merger
• Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership

Designed For

Accounting and finance professionals with clients using the LLC or LLP structure who need to understand advanced issues, problems and planning strategies