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
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.