Webcast: Tax Fundamentals of LLCs and Partnerships (WBTFLP117)
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 Export to Your Calendar 2/24/2017
When: 02/24/2017
12:00 PM until 4:00 PM
Where: Webcast
AICPA
1254913:E412A1F9D4B6F799D17B745A2CE2ECD0
United States
Presenter: Pamela Davis-Vaughn, CPA


Online registration is closed.
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AcronymWBTFLP117
CPE4.5 hours
VendorAICPA
Category
Tax
LevelIntermediate
PrerequisiteBasic knowledge of pass-through entities
Adv PrepNone
Who should attendPublic accounting staff, seniors, and tax professionals in company finance or tax departments
Registration
Member$159
CPA Non-Member$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.

Is LLC and partnership taxation something new to you? Perhaps you have worked in this area for years but need a quick review of the fundamental concepts? Build a foundation of knowledge or freshen up your skills. This course addresses the tax consequences of the most common transactions engaged in by LLCs and partnerships - from formation of the entity to the reporting and allocation of partnership/LLC income or loss to distributions and compensatory payments to partners or LLC members. Develop a level of comfort with the basic conceptual framework underlying partnership and LLC taxation, with an emphasis on explaining the tax consequences associated with issues that are most frequently confronted by tax practitioners.


Objectives

When you complete this course you will be able to:

  • Recall how partnerships and LLCs opting to be treated as partnerships will report their federal taxable income to the IRS.
  • Calculate the tax basis of assets transferred to a partnership or LLC at formation.
  • Recognize 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.

Topics

  • Tax structure of partnerships and LLCs
  • Tax consequences of partnership or LLC formation
  • Partnership distributions
  • Compensatory payments to partners
  • Overview of profit and loss allocations