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Surgent's Liquidation of Flow-Through Entities for LLCs and Partnerships (LFTE)
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Part of the technical competence of most experienced tax practitioners is the ability to advise owners of S corporations and partnerships or multiple-member LLCs treated as partnerships regarding the tax rules that apply when these entities liquidate. Entity liquidations do not occur every day; but they do occur, and often at very critical times in the business life of the entity and its owners. All tax practitioners should be able to advise their clients about the tax issues associated with cli

10/30/2015
When: 10/30/2015
8:00 AM - 10:00 AM
Where: Webcast/Webinar
Presenter: Mike Tucker, Ph.D., LL.M., J.D., CPA | Lance Weiss, CPA, CVA
Contact: April Deneault
801-834-6634

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Part of the technical competence of most experienced tax practitioners is the ability to advise owners of S corporations and partnerships or multiple-member LLCs treated as partnerships regarding the tax rules that apply when these entities liquidate. Entity liquidations do not occur every day; but they do occur, and often at very critical times in the business life of the entity and its owners. All tax practitioners should be able to advise their clients about the tax issues associated with client businesses that go out of existence and liquidate. This program explains the tax consequences associated with liquidating S corporations, partnerships and multiple-member limited liability companies treated as partnerships.

Objectives:

* Determine the gain or loss to the entity and to the owners when it makes a liquidating distribution * Determine the basis of property distributed in a liquidating distribution to an owner of the entity * Know what to do in terms of IRS reporting when an entity liquidates

Major Subjects: 

* Tax rules governing liquidation of a  partnership or S corporation * Tax treatment of the shareholder/partner/member receiving a liquidating distribution in an S corporation liquidation/partnership liquidation * Tax impact on the pass-through entity when the entity is liquidated * Receipt of corporate liabilities in an S corporation distribution * Proportionate, liquidating partnership distributions to partners, and gains and losses to a partner on a liquidating partnership distribution * Tax issues associated with a partnership distribution of noncash properties in a liquidation * Compliance requirements on the occasion of a liquidation of a corporation or a partnership

 

Designed For:

Any tax practitioner who wishes to understand the rules regarding S corporation and partnership liquidations

Prerequisite: Basic understanding of the tax rules impacting individuals and pass-through entities

Advanced Prep: None

 

Speaker: Mike Tucker, Ph.D., LL.M., J.D., CPA | Lance Weiss, CPA, CVA

Vendor: Surgent McCoy

Field of Study: Taxes (2)

Level: Intermediate

CPE Credit: 2 Hours

Acronym: LFTE

 

Registration Fees: $89

  

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