Ltd. Liab. Companies: Losses, Liquidations, Terminations, Sales [ACL4]

Subject:

Aug 26, 2024
Time: 12:30pm - 4:00pm
Taxation

Credit Hours:

4.00

Price:

Member: $155.00
Non-member: $225.00

Discussion Leader:

Susan Smith, CPA

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.

Full Description

Limited Liability Companies: Losses, Liquidations, Terminations, Continuations & Sales (ACL4)

August 26th, 2024 / 12:30 pm 4:00 pm

Elgee Rehfeld, LLC
9309 Glacier Highway, Suite B-200
Juneau, AK

In-depth knowledge of advanced-level issues in LLCs and LLPs gives you the power to help businesses grow and thrive. This course builds your toolbox for advising clients in the myriad issues facing them, including limitations on the ability to deduct losses, tax consequences of liquidating a partner's interest and issues to watch out for in mergers, acquisitions and sales. The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.

Major Topics:
- When are distributions taxable?
- Miscellaneous issues, including the critical difference between 736(a) and 736(b) payments
- Sales of an LLC interest -- holding period and hot asset issues

Learning Objectives:
- Identify when distributions are taxable, including disguised sales and the tax on pre-contribution gain
- Discuss the tax consequences of a liquidation of a partners interest
- Describe the options when a partnership terminates or continues following an acquisition or merger
-Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership

Designed For: Accounting and Financial Professionals with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies

CPE Credits: 4, Taxation

Level of Knowledge: Advanced

Prerequisite: A beginning course in LLCs/partnerships; experience with LLC/partnership clients

Acronym: ACL4

Discussion Leader: Susan Smith, CPA