The Top Five Tax Issues in Dealing with LLCs & Prtnshp Webcast [LP04]
Time: 08:30am-12:00pm
Subject:
TaxationCredit Hours:
4.00Price:
Member: $180.00
Non-member: $250.00
Discussion Leader:
Gregory A. Carnes
more info
Dr. Gregory Carnes serves as Dean of the Sanders College of Business and Technology and Raburn Eminent Scholar of Accounting at the University of North Alabama (UNA). Dr. Carnes has served as President of the Accounting Program Leadership Group, President-Elect of the Federation of Schools of Accountancy, and Secretary of the American Taxation Association. He currently serves as a board member of the Southern Business Deans Association. He has served as Chair of the Education Committee of the Alabama Society of CPAs (ASCPA) and President of the North Alabama ASCPA chapter. Dr. Carnes has authored tax material for CPA Review courses for more than 20 years, delivering tax training for national accounting firms and approximately twenty state societies of CPAs. He has published approximately thirty articles in leading academic and professional journals. He has served as Chair of the Shoals Chamber of Commerce Board of Directors. He also served as Chair of the Board of the Shoals Business Incubator in 2019 and continues to serve on its board. Dr. Carnes is President of the Rotary International chapter in Florence, AL for 2023-2024.
closeWebsite registration for this course closes on November 17, 2024. 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 & Partnerships Webcast (LP04)November 18th, 2024 / 8:30 am 12:00 pm
Live Webcast / Zoom
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: Gregory A. Carnes
