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Surgent McCoy's Advanced Critical Tax Issues for LLCs and Partnerships (ACTL14)
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What impact do the higher individual tax rates have on pass-through entities such as partnerships? The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs in light of the changes in the income tax.

11/4/2014
When: 11/4/2014
8:30 am until 4:30 pm
Where: City Club at River Ranch
1100 Camellia Blvd.
Lafayette, Louisiana  70508
Presenter: Stephen L. Renberg


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What impact do the higher individual tax rates have on pass-through entities such as partnerships? The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs in light of the changes in the income tax.

 

Designed for: CPAs with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies.

Objectives:

  • Identify the tax and non-tax advantages and disadvantages of LLCs and partnerships
  • Describe how inside and outside basis is affected by liabilities, recourse and nonrecourse
  • Discuss the impact of cash and property distributions
  • Explain the tax consequences of a sale of an interest and distinguish them from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership

 

Highlights:

  • Single-member limited liability companies as an alternative to subsidiaries
  • Cancellation of indebtedness: new rules and regulations
  • How the IRS views members or partners for Social Security purposes
  • Special problems when forming an LLC
  • Debt issues and problems in structuring LLCs and LLPs, including loan guarantee issues, recourse and nonrecourse debt, and the at-risk basis rules
  • Distributions: is it just a disguised sale?
  • Death or retirement of a member or partner - Understanding the alternatives
  • Step-up in basis issues -- How to make the computations and elections
  • Property transactions between the LLC/LLP and its members or partners - Inbound and outbound transactions: what to do with built-in gain or loss property
  • Partnership losses: when are they deductible?
  • New material participation rules for LLC members and limited partners: how it affects passive loss issues
  • Continuation and termination of an LLC/partnership in the context of a merger or acquisition
  • Sales of an LLC Interest - holding period, and hot asset issues
  • Impact of the new tax on investment income on the sale of an interest in a partnership or LLC

 

Requisite Knowledge: A beginning course in LLCs/partnerships; experience with LLC/partnership clients.

Speaker: Stephen L. Renberg
Vendor: Surgent McCoy
Field of Study: Taxation
Level: Advanced
CPE Credits: 8

Registration Fees:

 

Members

CPA Non-Members

Early Bird (through 10/20)

$276

$376

Standard (after 10/20)

$326

$426

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