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Advanced Partnership/LLC Workshop: How to Do Optional Step-Up in Basis Under 754... (APLW14)
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Changes in the individual income tax rates require more complex planning for clients invested in partnerships. This course explores the practical issues in the many instances in which a step-up in basis can create tax advantages for partners and members. This course includes case studies to illustrate the critical points.

10/24/2014
When: 10/24/2014
8:30 AM until 4:30 PM
Where: LCPA Training Center
2400 Veterans Memorial Blvd
Ste 500
Kenner, Louisiana  70062
Presenter: James W. (Bill) Harden


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Changes in the individual income tax rates require more complex planning for clients invested in partnerships. This course explores the practical issues in the many instances in which a step-up in basis can create tax advantages for partners and members. This course includes case studies to illustrate the critical points.

 

Designed for: CPAs in public accounting who work extensively with LLC and partnership tax issues.

 

Objectives:

  • Distinguish the tax consequences of a partnership interest sale and of a partnership asset distribution with and without a §754 election
  • Identify circumstances where a §754 election may be beneficial
  • Calculate the basis adjustments to individual partnership properties when a §754 election is made
 

Highlights:

  • Identify when an election to adjust basis will be available
  • Determining when the basis adjustment must be made or may be made without an election
  • Learn how to make the calculations to determine a step-up and allocate that step-up among partnership assets
  • Examine practical examples dealing with a sale of a partnership interest and the effects of §734(b)
  • Explore the alternatives to electing a basis adjustment
  • Understand a distribution of property and when an inside basis adjustment can be considered
  • Study examples dealing with sale of assets vs. sale of partnership interests and issues with hot assets
  • Find out how to keep track of the "books" for tax preparers when the inside basis adjustment is made, and how to flow through adjustments through a tax return and K-1.
  •  and much more!

 

Requisite Knowledge: Experience in dealing with partnership and LLCs; one or more intermediate courses on partnerships and LLCs           

 

Speaker: James W. (Bill) Harden

Vendor: Surgent McCoy

Field of Study: Taxation

Level: Advanced

CPE Credits: 8

 

Registration Fees:

 

Members

CPA Non-Members

Early Bird (through 10/9)

$276

$376

Standard (after 10/9)

$326

$426


 

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Society of Louisiana
Certified Public Accountants

2400 Veterans Memorial Blvd., Suite 500
Kenner, LA 70062-4739

504.464.1040
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