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Friday, November 13, 2020 Webcast

Surgent's Advanced Critical Tax Issues for Limited Liability Companies and Partnerships (E2011151)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST

webcast

Webcast

8.0 CPE Credits in TX

OVERVIEW

This seminar will provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

CPAs with clients using the LLC or LLP structure who need to understand advanced issues, problems and planning strategies.

BENEFITS

  • Identify the tax and non-tax advantages and disadvantages of LLCs and partnerships
  • Describe how inside and outside basis is affected by liabilities, recourse and nonrecourse
  • Discuss the impact of cash and property distributions
  • Explain the tax consequences of a sale of an interest and distinguish them from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership

HIGHLIGHTS

  • Single-member limited liability companies as an alternative to subsidiaries
  • Cancellation of indebtedness: new rules and regulations
  • How the IRS views members or partners for Social Security purposes
  • Special problems when forming an LLC
  • Debt issues and problems in structuring LLCs and LLPs, including loan guarantee issues, recourse and nonrecourse debt, and the at-risk basis rules
  • Distributions: is it just a disguised sale
  • Death or retirement of a member or partner
  • Step-up in basis issues
  • Property transactions between the LLC/ LLP and its members or partners
  • Partnership losses: when are they deductible
  • Continuation and termination of an LLC/partnership in the context of a merger or acquisition
  • Sale of an LLC interest - holding period and hot asset issues
  • Impact of the new tax on investment income on the sale of an interest in a partnership or LLC
  • New: Section 199A, technical termination of partnership repealed, other issues under 2017 Act

COURSE LEVEL

Advanced

PREREQUISITES

A basic course in LLCs/partnerships and/or experience with LLC/partnership clients.

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • This seminar qualifies for CFP credit.
  • This seminar qualifies for IRS credit.

Course materials are distributed electronically. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.

INSTRUCTOR

Daniel Dixon

Daniel M. Dixon, Esq.

Dan’s practice focuses on providing the highest quality tax counsel and advocacy to Fortune 500 companies and beyond, which often results in significant tax savings. He has resolved, both through litigation and settlement, difficult state tax matters before administrative appeal boards, tax tribunals, and courts in more than 25 states (with a particular focus on PA, NJ, and CA). Managing single-state and multi-state audits, planning advice, and interfacing with government officials are also significant components of Dan’s 14+-year legal career. Partner at Kaplin Stewart in Blue Bell, PA, Dan has also focused on “the business of law” as a primary tenet to a successful career. This frequently includes managing a team of associates and leveraging other professionals to deliver advice in an efficient and timely manner. As far as “niche” practices, Dan has developed a particular focus on the taxation of software and emerging technologies and has extensive experience in State Unemployment Insurance law. Dan’s expertise in the oil and gas industry has also led to the development of a specialty practice related to the taxation of natural gas drilling and extraction in the Marcellus Shale region of PA. Recently Dan has been gaining expertise in Pennsylvania Right to Know laws, electronic document collection and retention, and document destruction laws.

PRICING

$289.00 - Member

$389.00 - Non Member

Register Today


Note: Online pre-registration will close 24 hours prior to this event.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent

Qualifies For

  • CFP