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Advanced Tax Strategies for LLCs and Partnerships

Type: Video Webcast
Date: June 20, 2014
Time: 08:30 AM - 04:05 PM ET
Recommended CPE Credit: 8
*Earn CPE
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This Update is being offered on multiple dates and times. At bottom of page, select the date/time that best fits your schedule.

What works best for your client? Learn the pros and cons of the LLC, General Partnership, Limited Partnership, and Limited Liability Partnership by focusing on planning and potential tax traps. A review of distinct advantages of these entities is coupled with an examination of the risk members and partners face if they do not have a solid tax plan to minimize their exposure. In addition, we will explore some of the more intricate rules and regulations of these entities so you can move your working knowledge of partnership and LLC taxation beyond the basics.

Topic Discussed:

  • Allocation of partnership and LLC income under Section 704(b)
  • Allocations with respect to contributed property
  • Allocation of partnership recourse liabilities under Section 752
  • Allocation of partnership nonrecourse liabilities and related deductions under Sections 752 and 704(b)
  • Advanced distribution rules
  • Adjustments to the basis of partnership/LLC assets
  • Sale of an interest in a partnership or LLC
  • Learning Objectives

    When you complete this course you will be able to:

    • Allocate income, gain, loss, and deduction among partner/members to reflect their agreed-upon interests properly in partnership or LLC economic activities.
    • Assess the risks taken by investors with respect to their investment in a partnership or LLC and allocate the entity's liabilities accordingly.
    • Determine the consequences of selling a partnership or LLC interest.
    • Calculate the basis of partnership or LLC following distributions of multiple properties.
    • Plan for the effects of a distribution of multiple properties.
    • Make elections to protect partners and LLC members from unwelcome future consequences arising from current distributions, sales, and/or transfers of interests in the partnership.

    Who should attend this event:
    Managers and partners in PA who assist clients with tax planning for closely held LLCs and partnerships

    Field of Study: Taxes
    Level: Advanced
    Prerequisites: Basic knowledge of business

    Important Information on Your CPE Credit

    How To Access This Webcast

    1. Click the link provided in your order confirmation.
    2. Register for your event by entering your information and click "Register."
    3. After registering, the confirmation page will display a page with a link to "test your system" Webinar Compatibility Test. Please ensure that you have 3 green "passed" indicators and that the video plays successfully prior to the event. Your computer must pass this test to access this event. (For technical support, please call AICPA Member Services at 888-777-7077)
    4. The event will be open 15 minutes prior to the start - use the link above to attend.
    Advanced Tax Strategies for LLCs and Partnerships
    Individual CPE
    June 20, 2014 8:30AM - 4:05PM ET
    Video Webcast
    Product# VDTT005
    Availability: Online Access
    Live Webcast
    AICPA Member:$249.00
    Your Price:$345.00
    To receive your AICPA member discount, Sign In now, or Register using your AICPA membership number.