Surgent’s Advanced Critical Tax Issues for Limited Liability Companies and Partnerships (ACTL) (SSTX07/19)
June 30, 2019 @ 12:00 pm EDT| $400
The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.
CPAs with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies
- Identify the tax and non-tax advantages and disadvantages of LLCs and partnerships
- Describe how inside and outside basis is affected by liabilities, recourse and nonrecourse
- Discuss the impact of cash and property distributions
- Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership
- Case study to improve advocacy skills before the IRS
- 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
- New: Section 199A, technical termination of partnership repealed, other issues under 2017 Act
A basic course in LLCs/partnerships or equivalent knowledge and experience
When you purchase a Surgent CPE on-demand course, it must be taken by June 30, 2019, to receive credit.
Within 5 minutes after your purchase, you will receive an email from firstname.lastname@example.org that explains how to access your course and materials.
Once you complete a course, please allow up to 30 days to receive you certificate of completion.
If you have further questions, please email email@example.com or call 800.778-7436. Their help lines are staffed Monday-Friday from 8:30 am to 5 pm Eastern Time.