Advanced Partnership Taxation Concepts (Half-Day Webinar) (Completed)

Date: Thursday, December 22, 2022
Instructor: Greg White
Begin Time:  8:00am Pacific Time
9:00am Mountain Time
10:00am Central Time
11:00am Eastern Time
CPE Credit:  4 hours for CPAs
4 hours Federal Tax Related for OTRPs
4 hours Federal Tax Law for CTEC
4 hours Federal Tax Related for EAs and OTRPs

Partnerships are the fastest growing type of business entity. Understanding the finer points of tax preparation and planning for partnerships is a key part of all tax practices.

In this course, we’ll cover sophisticated strategies to keep you on the cutting edge, including self-employment tax for LLC members, allocating losses of limited liability companies, and admitting new partners in the most tax efficient manner.

Who Should Attend

Topics Covered

  • When should self-employment earnings be reported for an LLC member?
  • Claiming bonus depreciation on §743 step-ups from purchases of partnership interests
  • Avoiding the IRS's dangerous CPAR audit rules
  • Transferring profits interests in partnerships without triggering taxation to new owners
  • Allocating losses to LLC members under §704(b)
  • Claiming bad debts for partner loans
  • Deducting interest on loans made to purchase partnership interests or make loans to partnerships

Learning Objectives

  • Identify partnerships that are able to elect out of the CPAR (centralized partnership audit regime)
  • Recognize how to report self-employment earnings for LLC members
  • Identify partnership clients that are eligible to elect out of the dangerous new IRS audit rules for partnerships (CPAR)
  • Compute bonus depreciation on the purchase of a partnership interest


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
Basic understanding of partnership taxation.

Advance Preparation

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