Tax Strategies for Partnerships Part 3: Allocations, Partnership Audit Rules, and Self-Employment

Author: Greg White

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

Allocations of Income and Loss, Navigating the New Partnership Audit Rules, and the Basics of Self-Employment Tax Join expert Greg White, CPA, as he takes a deep dive into partnership allocations of income and loss (including planning strategies) and the special considerations when LLCs are involved. We'll also cover the new partnership audit rules — how to avoid them, when you can't, and how to minimize the damage. Finally, we'll cover the basics of self-employment taxes in the partnership context.

Publication Date: May 2023

Designed For
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Topics Covered

• Partnership allocations of income and loss (including planning strategies) and the special considerations when LLCs are involved
• New partnership audit rules — how to avoid them, and when you can't, how to minimize the damage
• Basics of self-employment taxes in the partnership context

Learning Objectives

• Recognize the mechanics and strategies of allocations of income and loss in the partnership context
• Identify which partnerships can elect out of the new partnership audit rules and how to minimize damage if the partnership can't elect out

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None