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Partnership and LLC Taxation: Advanced Issues, Including Transfers of Interests and Liq (4151398F)
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"This best-selling course will prepare you to help your clients plan partnership and LLC transactions to minimize taxes. We'll cover allocation of basis in debt to step-up in basis upon transfer; disguised sales; abandonment of partnership interest; reallocation of depreciation among partners; reporting income from forgiveness of indebtedness; how to determine an LLC member' self-employment income; and more. "

1/13/2016
When: 1/13/2016
7:30 AM - 3:00 PM
Where: Webcast/Webinar
Presenter: Don Paul Cochran, JD, CPA, CFP®, CRC®
Contact: April Deneault
801-834-6634


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This best-selling course will prepare you to help your clients plan partnership and LLC transactions to minimize taxes. We'll cover allocation of basis in debt to step-up in basis upon transfer; disguised sales; abandonment of partnership interest; reallocation of depreciation among partners; reporting income from forgiveness of indebtedness; how to determine an LLC member' self-employment income; and more.



Objectives:



    Recognize tax traps and pitfalls in the organization and operation of partnerships and LLCs.
    Calculate the special allocations required for Section 704(c) property.
    Identify common ownership changes.
    Identify and apply rules properly when passing income and other items through owners.
    Determine how to properly plan and account for income from forgiveness of debt.
    Identify how to handle the balance sheet after required tax adjustment.

 

      
   

Major Subjects:



    Special tax considerations when organizing a partnership
    Sec. 721: Contributions of property to capital
    Sec. 752: Liabilities and their allocation to owners
    Sec. 704(b): Determination of owners' distributive share, including special allocations
    Sec. 704(c): Adjustments for contributed property
    Sec. 754 election: Optional adjustments to the basis of entity property
    Sec. 751: Distribution of assets
    Sec. 736: Payments to a retiring partner or member
    Current court developments and IRS rulings

 
           

Designed For:

CPAs who advise clients on planning for partnership or LLC transactions, or those who have review responsibility in the partnership or LLC tax compliance function.

Prerequisite:   Five or more years of tax experience.

Advanced Prep:  None

Speaker: Don Paul Cochran, JD, CPA, CFP®, CRC®

Vendor: CalCPA

Field of Study: Taxes

Level:  Advanced

CPE Credit: 8 Hours

Acronym:   PTAI

 

Registration Fees:

Members: $275

Nonmembers: $375

 

Meet the Speaker:

 Don Paul Cochran, JD, CPA, CFP®, CRC®    Don Cochran is a solo practitioner in Apple Valley, Minnesota. His 30 years of practice has been focused primarily in the areas of small business legal and tax consulting, and individual tax, estate, and financial planning.    Don has practiced law in both Iowa and Minnesota, was a CPA with the Small and Emerging Business practice of then Big 8 accounting firm, Touche Ross, in Bloomington, Minnesota, and was the Vice President of Tax and CFO with various privately and publicly held companies. He also served as an advanced sales consultant with Securian Financial, Nationwide Financial, and Pacific Life Insurance Company. He developed and provided continuing education on tax and legal planning strategies for small to medium size businesses and wealthy individuals, and worked with insurance wholesalers and financial advisors to understand and implement financial strategies geared towards asset preservation and income in retirement.    Don earned his undergraduate degree, a Bachelor of Science in General Science, from the University of Iowa, Iowa City, Iowa, and graduated from the University of Iowa College of Law with his Juris Doctorate. In addition to being an attorney and Certified Public Accountant, he maintains his designations as a Certified Financial Planner® and Certified Retirement Counselor®. He is a member of the Minnesota and Iowa State Bar Associations, and the Minnesota Society of CPAs.

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