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We'll cover important planning strategies and have some fun along the way. In this course.
Who Should Attend
Tax professionals who practice in the partnership area.
Topics Covered
- Using “liability netting” to minimize gain on the formation of a partnership
- Admitting new partners with minimal tax consequences
- Redeeming partners’ interest using tax minimization strategies
- Minimizing self-employment taxes for LLC members
- Maximizing the section 199A QBID for partnerships
Learning Objectives
- Identify important considerations at the formation of a partnership
- Recognize opportunities to admit new partners with no tax to the new partner, and an exit strategy for departing partners
- Identify planning strategies to maximize partnership section 199A deductions
- Deducting payments for redemption of a partnership interest (service partnerships)
- Identify circumstances where a partnership works better than an S corp and when it doesn’t
- Identify partnerships that can elect out of the new partnership audit regime (CPAR), and when they should elect out
- Identify circumstances in which self-employment tax doesn’t apply to limited partners and LLC members
Level
Intermediate
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (4 hours)
Program Prerequisites
Some experience in the federal taxation of partnerships.
Advance Preparation
None
Instructor
Greg White
Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.