Partnership and LLCs Update WEBCAST
Overview
LLCs and partnerships continue to present some of the greatest challenges for return preparers and advisors. This program addresses the latest developments affecting these entities, including new IRS audit initiatives, updates on self-employment tax for LLCs and partnerships, disregarded entity rules and transactions, and common allocation issues. Participants will also review how to properly identify various types of partnership debt for basis purposes, understand the use of the Section 754 election in the sale of interests and at death, and explore reporting requirements for LLC and partnership interests on gift and estate tax returns, including valuation considerations for closely held businesses and minority interests. The session also examines the impact of the recent Sirius Solutions decision.
Highlights
IRS audits. Allocations and Basis. Proper reporting. Valuation of closely held business interests. Impact of the Sirius Solutions Decision.
Prerequisites
None.
Designed For
Industry and public accountants.
Objectives
Learn about new IRS audit initiative. Learn to avoid allocation and basis calculation errors. Identify disregarded entities for income tax purposes and how those are treated differently under other taxes. Understand how partnerships and LLCs are addressed in estate and gift tax reporting rules.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
C Davis Jr, BPN Inc
C. Clinton Davis, CPA, JD, is a partner in the Dallas, Texas law firm of Krage & Janvey, LLP. He is a frequent presenter at continuing education programs for both accountants and lawyers, including not-for-profit organizations, partnership and real estate planning. He is the author of Texas Society of Certified Public Accountants (TSCPA) courses, Fundamentals of LLC and Partnership Taxation, and Tax Planning for Real Estate and Small Business. Clint is Board Certified in Tax Law by the Texas Board of Legal Specialization. He represents numerous pass-through and charitable entities. Clint has served as program chair or presenter on several ACPEN programs in the areas of tax, not-for profit and business entities.
Non-Member Price $300.00
Member Price $250.00