Course

LLC's & Partnerships in Depth

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Event Details

Wednesday, July 31, 2019

8:00am – 4:00pm
(Registration: 7:30am)

Location

Best Western Great Northern Hotel

835 Great Northern Blvd

Helena, MT 59601

406-457-5500

Field of Study

  • Taxes

CPE Credit

8 hours CPE credit

Course Code

LPD-50

Instructor

Level of Knowledge

Intermediate

Vendor

TaxSpeaker

Prerequisites

2-4 years tax preparation experience.

Description

Updated for the new partnership regulations as well as the Tax Cuts and Jobs Act, this course discusses partnership taxation through the formation rules (including accounting entries) S and C elections, troublesome issues on self-employment tax, adding partners and granting interests for services, the operating tax issues encountered such as partner fringe benefits, pension plans, guaranteed payments and income allocations, in-discussion of the 20% flow-through deduction and concludes with a review of unusual items such as detailed guidance, with examples, on the 754 step-up basis election.

Objectives

Upon completion of this course, you will be able to-Prepare individual tax returns for partnerships and LLCs; Provide clients with the characteristics, advantages, and disadvantages of LLCs; Advise clients on forming a partnership or an LLC; Advise clients about methods of accounting and partnership/LLC tax returns; Properly treat partner and partnership items with regard to basis and calculate a partner’s basis; Advise clients on the proper treatment of members leaving an LLC and selling their interest.

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