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Webcast: Tax Fundamentals of LLCs and Partnerships (WBCL4TLLLO16)
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 Export to Your Calendar 12/23/2016
When: 12/23/2016
8:00 AM until 11:00 AM
Where: Webcast
AICPA
1193299:169B32F90E4C452C2B154B6402AE2BD3
United States
Presenter: Pamela Davis-Vaughn, CPA


Online registration is available until: 12/21/2016
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Acronym WBCL4TLLLO16
CPE 4 hours
Vendor AICPA
Category
Tax
Level Intermediate
Yellow Book No
Prerequisite Basic knowledge of pass-through entities
Who should attend Public accounting staff, seniors, and tax professionals in company finance or tax departments
Members $159
CPA Non-Members $199

The Member rate applies to LCPA members, reciprocal state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Description

Acquire the basic skills you need to prepare income tax returns for LLCs and Partnerships. This course helps you identify the information required from the accounting system and the questions to ask of managers or business owners. This course provides participants with a foundation of tax principles and rules applicable to flow through entities under IRC section subchapter K.

Objectives

When you complete this course you will be able to:

  • Recognize differences among the various types of partnerships and an LLC

  • Describe how partnerships and LLCs opting to be treated as partnerships will report their federal taxable income to the IRS

  • Determine the tax basis of assets transferred to a partnership or LLC at formation

  • Explain the tax consequences and liabilities to a partnership/LLC of property transfers

  • Distinguish between distributions and compensatory payments to partners and recognize tax consequences of each type of payment

  • Apply the at-risk and passive activity loss limitations to pass-through losses from partnerships and LLCs

Topics

  • Formation and the Check-the-Box rules

  • Profit and loss allocation

  • Effect of liabilities

  • Contributions and distributions

  • Reporting taxable income

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