The Top 5 Tax Issues in Dealing with LLCs & Partnerships [LP04]
Time: 08:30am-12:00pm
Subject:
TaxationCredit Hours:
4.00Price:
Member: $175.00
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 September 20, 2023. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.
Full Description
The Top Five Tax Issues in Dealing with LLCs and Partnerships (LP04)September 21st, 2023 / 8:30 am 12:00 pm
Raven Landing Center / Multipurpose Room
1222 Cowels Street
Fairbanks, AK
Partnerships and LLCs involve unique problems that require careful attention. This course covers selected critical tax issues that practitioners need to know when working with partnerships and limited liability companies, with a focus on planning opportunities and pitfalls.
Major Topics:
- Coverage of important provisions of The SECURE 2.0 Act and Inflation Reduction Act
- Self-employment tax issues: what you can and cannot do
- Capital accounts: book vs. tax issues
- Determining basis: key issues and technical analysis in calculating basis
- Dealing with debt: recourse, nonrecourse, and why it matters
- Guaranteed payments, distributive shares, and draws: understanding the difference
Learning Objectives:
- Identify and distinguish guaranteed payments and distributive shares
- Understand the relationship between capital account maintenance and outside basis adjustment
- Define various kinds of partnership liabilities and explain the tax consequences of each
Designed For: Accounting and Financial Professionals who wish to gain a more in-depth understanding of LLC and partnership tax law
CPE Credits: 4, Taxation
Level of Knowledge: Intermediate
Prerequisite:
A basic course in partnership theory or experience in tax compliance or planning for partnerships and LLCs
Acronym: LP04
Discussion Leader: Susan Smith, CPA
