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LLCs and Partnerships: Review of Selected Topics (4151323B)
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"Tax practitioners have long grappled with understanding the rules contained in Subchapter K statutes and regulations. It's time to grapple no longer. This course reviews key code sections, including partnership/LLC formation, basis adjustments and income/loss allocations, and the applications you need to effectively prepare partnership tax returns. Additionally, uncover important planning opportunities by analyzing key regulations. "

8/19/2015
When: 8/19/2015
9:30 AM - 5:30 PM
Where: Webcast/Webinar
Presenter: Norman S. Solomon, CPA, JD, LLM
Contact: April Deneault
801-834-6634


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Tax practitioners have long grappled with understanding the rules contained in Subchapter K statutes and regulations. It's time to grapple no longer. This course reviews key code sections, including partnership/LLC formation, basis adjustments and income/loss allocations, and the applications you need to effectively prepare partnership tax returns. Additionally, uncover important planning opportunities by analyzing key regulations.


Objectives:



    Identify tax laws related to selected Subchapter K code sections.
    Recognize key Subchapter K elements, including formations, income allocations, allocations of debt, basis and its relation to the at-risk rules, distributions and optional (and mandatory) basis adjustments.
    Recall how to confidently and efficiently preparing Schedules K-1.
   

  
   

Major Subjects:



    Partnership/LLC formations (IRC Sec. 721)
    Contributions of appreciated property (IRC Sec. 704(c))
    Income/loss allocations (IRC Sec. 704(b))
    Partnership/LLC distributions of property (IRC Secs. 731-732)
    Partner's tax basis and the impact of debt allocations (IRC Sec. 752)
    Optional basis adjustments (IRC Sec. 754)
    

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Designed For:

CPAs and attorneys who want to become more familiar with selected partnership/LLC code sections or want to learn more about the philosophy and application of Subchapter K rules.

Prerequisite:  Understanding of partnership and LLC taxation.

Advanced Prep:  None

Speaker: Norman S. Solomon, CPA, JD, LLM

Vendor: CalCPA

Field of Study:   Taxes

Level:  Intermediate

CPE Credit: 8 Hours

Acronym:  LPWS

 

Registration Fees:

Members: $275

Nonmembers: $375

 

Meet the Speaker:

Norman S. Solomon, CPA, LLM (Taxation), president of Norman S. Solomon, CPA, Inc., consults on an advisory basis with other CPAs and attorneys relating to tax planning for closely-held businesses.  In the past 15 years his emphasis has been on flow-through entities.  He has been a college professor and a speaker at numerous tax conferences and continuing education programs for over 42 years.

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