Objective
- 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
- Distinguish the roles S corporations and partnerships/LLCs play in the changing tax environment
- Be familiar with the results of the case studies that reinforce key learning points
Highlights
- Update on latest cases, rulings, and regulations
- How to handle liabilities of LLCs
- Planning opportunities and pitfalls in determining basis -- recourse and nonrecourse debt issues for LLCs, and much more
- Partnership planning -- Structuring partnership distributions and transfers of interests
- Optional basis adjustments -- §§754 and 732(d)
- Update on Small Business Health Reimbursement Arrangements
- Basis and distribution issues in the S corporation
- Redemptions and liquidations 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
- Late-breaking tax legislation, with emphasis on its impact on pass-throughs and their owners
Designed For
CPAs in public accounting and industry who want to learn planning strategies relevant to S corporations, partnerships, and LLCsPrerequisite
A basic course in partnership theory and S corporation theoryAdvanced Preparation
None