Partnership Taxation Concepts and Planning Strategies (Full-Day Course) (Completed)

This full-day CPE webinar with nationally recognized tax practitioner and instructor James Hamill, CPA, Ph.D. provides a practical review of how to deal with the most commonly encountered partnership tax issues from a planning and compliance perspective.

Debt allocations, distributions, bringing in new partners, sales of partnership shares, and terminations all present myriad tax questions that require careful consideration. Dr. Hamill will clarify and deepen your understanding of these critical issues. He excels at taking complex tax concepts and explaining them in a clear and easy-to-understand manner that you can apply in your practice with your partnership and partner clients. You don’t want to miss this helpful discussion on this essential topic!

All professionals involved with partnership tax compliance and planning matters will benefit from this insightful webinar. The course presentation time will include opportunities for you to ask questions directly to Dr. Hamill.

Thank You Gift
As our “thank you for attending” gift, firms registered for this webinar
will receive a complimentary issue of Wolter Kluwer’s Journal
of Passthrough Entities.

Who Should Attend
CPAs, EAs, tax preparers and other tax professionals with responsibility for review of partnership and LLC tax returns and planning for partnership tax entities

Topics Covered

• Applicability of self-employment tax to partnership income, including LLC members
• The economic effect test for respecting partnership allocations
• Allocations of partnership nonrecourse deductions
• Section 704(c) allocations of built-in gains and losses
• Determining partner's shares of recourse and nonrecourse debt
• Sales and exchanges of partnership interests
• Section 743 adjustments to basis for a purchasing partner
• Tax treatment of distributions of money and property
• Section 734 basis adjustments for partnership distributions
• The impact of the Tax Cuts and Job Creation Act of 2017
• Partnership terminations
• Overview: Impact of Section 199A deduction
• Overview: Centralized Audit Rules

Learning Objectives

• Explain essential areas in partnership taxation
• Identify tax planning opportunities and pitfalls with partnerships

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (8 hours)

Program Prerequisites
Experience with Partnership Tax Returns

Advance Preparation
None