The Top Five Tax Issues in Dealing with LLCs and Partnerships

154  |  Course  |  Intermediate  |  Scheduled

Description

Partnerships and LLCs involve unique problems that require careful attention. This course covers selected critical tax issues that practitioners need to know when working with partnerships and limited liability companies, with a focus on planning opportunities and pitfalls.

A Live Stream version of this event is available here.

Credits

Number of Credits Type of Credits
4.00 Taxes
3.33 CLE

Designed For

CPAs who wish to gain a more in-depth understanding of LLC and partnership tax law

Prerequisites

A basic course in partnership theory or experience in tax compliance or planning for partnerships and LLCs

Highlights

  • Summary of important provisions of the Tax Cuts and Jobs Act of 2017, specifically including the critical 199A and the final regulations thereunder, and the latest updates as 199A shakes itself out
  • Self-employment tax issues: what you can and cannot do
  • Capital accounts: book vs. tax issues
  • Determining basis: key issues and technical analysis in calculating basis
  • Dealing with debt: recourse, nonrecourse, and why it matters
  • Guaranteed payments, distributive shares and draws: understanding the difference

Objectives

  • Identify 199A issues for your clients
  • Identify and distinguish guaranteed payments and distributive shares
  • Understand the relationship between capital account maintenance and outside basis adjustment
  • Define various kinds of partnership liabilities and explain the tax consequences of each

Prices

Member (Early Bird)
$169.00
Non-Member (Early Bird)
$219.00
Member
$194.00
Non-Member
$244.00
Your Price: $244.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations.

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$15.00

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Instructors

Don P. Cochran, CPA, JD, CFP, CRC

Don has practiced law in both Iowa and Minnesota for over 38 years. He is currently in solo practice of law in Apple Valley, Minnesota, focusing on tax, estate planning, and small business organization and management. He was a CPA with the Small and Emerging Business practice of then-Big 8 accounting firm, Touche Ross, in Bloomington, Minnesota, and has served as the Vice President of Tax and CFO with various privately and publicly held companies. He also served as an advanced sales consultant with Securian Financial, Nationwide Financial, and Pacific Life Insurance Company's Annuity and Mutual Fund division, providing advanced planning support for financial advisors on topics of financial and estate planning for small to medium-size businesses and wealthy individuals. Don is actively involved in continuing education and other seminars for financial professionals and accountants, on topics related to tax issues for individuals and small businesses; current financial planning and asset transfer; and preparing for and living through retirement. Don is much sought after as a presenter of CPE for seminars sponsored by state societies of CPAs, CPA firms, and other providers of continuing education for financial professionals, and is a featured speaker at several national tax conferences. Don earned a Bachelor of Science in General Science from the University of Iowa, Iowa City, Iowa, and graduated from the University of Iowa College of Law with his Juris Doctorate. In addition to being a licensed attorney in Minnesota and Iowa, he maintains his license as a Certified Public Accountant. He has also attained the designation of Certified Financial Planner® and Certified Retirement Consultant.

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