Loading Events

Surgent’s Limited Liability Companies: Losses, Liquidations, Terminations, Continuations, and Sales (ACL4) (SSTX168/21)

Event Description

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

Designed For

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

Objectives

  • Identify when distributions are taxable, including disguised sales and the tax on pre-contribution gain
  • Discuss the tax consequences of a liquidation of a partner’s interest
  • Describe the options when a partnership terminates or continues following an acquisition or merger 
  • 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

Major Subjects

  • When are distributions taxable?
  • Miscellaneous issues, including the critical difference between §736(a) and §736(b) payments
  • Sales of an LLC interest — holding period and hot asset issues
  • Tax Cuts and Jobs Act of 2017 partnership and LLC provisions

Prerequisites

A beginning course in LLCs/partnerships; experience with LLC/partnership clients

Instructions

None