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 

- Evaluate the impact of recent legislation, guidance, and judicial decisions 

- Identify planning opportunities under current laws and regulations 

- Be familiar with the results of the case studies that reinforce key learning points 



Highlights
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- Wrapping up issues related to COVID-19 legislation 

- 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 

- Section 199A pass-through deduction planning 

- Partnership planning -- Structuring partnership distributions and transfers of interests 

- Optional basis adjustments -- §§754 and 732(d) 

- Planning for the utilization of §179 and for the scheduled phase out of bonus depreciation beginning in 2023 

- 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 

- A brief look at possible future changes to the taxation of pass-through entities




 

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