Surgent's Advanced Critical Tax Issues for Limited Liability (ACTL-DN)

Available Anytime |

Description

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

Cost

Standard Registration: $150.00 Member / $250.00 Non-Member

Major Topics

  • Single-member limited liability companies as an alternative to subsidiaries
  • Cancellation of indebtedness: rules and regulations
  • How the IRS views members or partners for Social Security purposes
  • Special problems when forming an LLC
  • Debt issues and problems in structuring LLCs and LLPs, including loan guarantee issues, recourse and nonrecourse debt, the at-risk basis rules, and new regulations restricting "bottom dollar" guarantees 
  • Distributions: is it just a disguised sale? New regulations eliminate certain tax-deferred leveraged partnership transactions
  • Death or retirement of a member or partner -- Understanding the alternatives
  • Step-up in basis issues -- How to make the computations and elections
  • Property transactions between the LLC/LLP and its members or partners -- Inbound and outbound transactions: what to do with built-in gain or loss property
  • Partnership losses: when are they deductible?
  • Material participation rules for LLC members and limited partners: how they affect passive loss issues
  • Continuation and termination of an LLC/partnership in the context of a merger or acquisition
  • Sales of an LLC Interest -- holding period, and hot asset issues
  • Impact of the tax on investment income on the sale of an interest in a partnership or LLC

DETAILS

Course Code:
ACTL-DN

Vendor:
Surgent McCoy CPE, LLC

Who should attend?
CPAs with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies

 

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