Top 10 Questions from Partn. Clients Re: Section 754 Webcast [T754]
Time: 8:30am - 12:00pm
Subject:
TaxationCredit Hours:
4.00Price:
Member: $150.00
Non-member: $240.00
Discussion Leader:
Susan Smith, CPA
more info
Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences. Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master’s taxation program. Her ratings have consistently exceeded 4.8 on a scale of 5.0. Smith is a four-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. And in 2015, 2016, and 2018, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Smith earned her Bachelor of Business Administration degree with an accounting concentration, from the University of Toledo.
closeWebsite registration for this course closes on August 23, 2023. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.
Full Description
Top Ten Questions from Partnership Clients Regarding theSection 754 Election Webcast (T754)
August 24th, 2023 / 8:30 am 12:00 pm
Live Webcast / Zoom
This program is an in-depth analysis of the Section 754 election and the two adjustments associated with the election under Section 743(b) and Section 734(b). The 754 election is a highly technical provision that provides great tax benefits to the owners of the partnership, and particularly in the case of Section 743(b), a new partner. In this webinar, our expert panel will cover the most common questions encountered by practitioners in their daily practices. The program includes a number of examples that provide insights into the mechanics of the two adjustments that follow upon a Section 754 election.
Major Topics:
- How does a partner compute his or her basis in a partnership?
- What is the difference between a partner's inside and outside basis?
- What is the difference between a partner's capital account and partner's outside basis?
- How does Section 732(d) impact the buyer of a partnership interest?
- How does a partnership report a Section 754 election on the partnership's tax return?
- How does a partnership make a Section 754 election?
- How does a partnership make a Section 743(b) adjustment?
-How does a partnership make a Section 734(b) adjustment?
- How is a Section 743(b) adjustment or Section 734(b) adjustment allocated to the assets of a partnership?
-How is a Section 743(b) adjustment allocated within the class of ordinary income property and capital gain property?
Learning Objectives:
- Be familiar with the practical issues surrounding Section 754 and its application
- Effectively advise clients on these complex issues
Designed For: Accounting and financial professionals seeking to fortify their Section 754 knowledge base.
CPE Credits: 4, Taxation
Level of Knowledge: Intermediate
Prerequisite: A basic understanding of the tax rules impacting individuals and pass-through entities
Acronym: T754
Discussion Leader: Susan Smith, CPA
