Live Stream: Tax-Planning Guide for S Corporations, Partnerships and LLCs
257 | Livestream | Intermediate | Scheduled
Description
As long as LLCs, partnerships and S corporations form the backbone of many CPAs' practices, in-depth knowledge of all tax aspects of these entities will be essential. The purpose of this practical course is to focus on planning issues in creating, operating and liquidating S corporations, partnerships and LLCs. This course is essential for CPAs in public accounting and industry who advise these entities or their investors.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 8.00 | Taxes |
| 6.75 | CLE |
Designed For
CPAs in public accounting and industry who want to learn planning strategies relevant to S corporations, partnerships, and LLCs
Prerequisites
A basic course in partnership theory and S corporation theory.
Highlights
- Update on latest cases, rulings, and regulations including the final regs
- How to handle liabilities of LLCs
- Planning opportunities and pitfalls in determining basis and amounts at risk - recourse and nonrecourse debt issues for LLCs and much more
- Planning for the provisions of the Tax Cuts and Jobs Act, including taking the best advantage of the 199A pass-through deduction
- Update on various carryforwards and how they impact the 199A deduction
- Partnership planning - Structuring partnership distributions and transfers of interests
- Optional basis adjustments - 754 and 732(d)
- Update on Small Business Health Reimbursement Arrangements
- How to take advantage of the new 179 and bonus depreciation rules of the Tax Cuts and Jobs Act
- Basis, distribution, redemption and liquidation issues of S corporations
- Compensation in S corporations
- Sale of a partnership - the best planning concepts
- What you need to know about family pass-throughs - Estate planning, family income splitting, and compensation planning
- Partnership and LLC allocations
- Other provisions of the Tax Cuts and Jobs Act, with emphasis on its impact on pass-throughs and their owners
Objectives
- Identify current issues that practitioners are most often called on to address
- Be familiar with planning techniques employed in dealing with the life cycle of pass-through entities
- Plan for the best utilization of carryforwards under the Tax Cuts and Jobs Act of 2017
- Distinguish the roles S corporations and partnerships/LLCs play in the changing tax environment
- Evaluate the impact of the Tax Cuts and Jobs Act of 2017 and the related regulations on pass-through entities
- Identify planning opportunities under current laws and regulations
- Be familiar with the results of the case studies that reinforce key learning points
Prices
- Member (Early Bird)
- $295.00
- Non-Member (Early Bird)
- $395.00
- Member
- $295.00
- Non-Member
- $395.00
Instructors
Michael E. Reilly, CPA
Michael E. Reilly, CPA, is a sole practitioner with offices in West Chester, PA. In addition to maintaining his practice, Mr. Reilly has been an adjunct professor at several colleges and was a visiting professor of Economics and Business at Lafayette College. He was also the CFO for a large insurance agency in Delaware County, PA, and was a licensed insurance agent in Pennsylvania.
Mr. Reilly earned his bachelor's degree in business administration with an accounting concentration from Temple University and his master of taxation degree from Villanova University School of Law. He also holds the Chartered Financial Consultant (ChFC) and Chartered Life Underwriter (CLU) certifications.
In 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills.
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