This comprehensive online continuing education training is designed to get the accountant up to speed quickly with partnership and limited liability Company (LLC) formation and liquidation issues as well as a complete understanding of calculating a partner and LLC member's basis.
The cornerstone of this Online CPE/CE Course is the in-depth line-by-line analysis of Form 1065, subchapter K and how it affects the partner/member’s individual income tax return. Each attendee will receive the most comprehensive reference manual with numerous practice aids and real-world examples and case studies.
This online CPE/CE Tax webinar covers the following key topics:
- An extensive review of the partnership tax laws with an emphasis on any new legislative changes (SECURE & CARES Act).
- Review Subchapter K, its provisions, and regulations.
- Analyze the form 8832 line-by-line and discuss the general rules of the effective date of the election.
- Look at what relevant information related to the 50% of ownership's interest in the entity of elective date of election owned by persons who did not own any interest in the entity on the effective date of the entity's prior election.
- Formation issues including the mandatory allocation of the §704(c) pre-contribution gain or losses back to the contributing partner/member.
- The purpose of tax and §704(b) book capital account.
- Effective of a Partnership Agreement §704(a).
- Tax ramifications and reporting of cash and non-cash distributions including disproportionate distributions of “hot assets”.
- Overview of the §754 elections for optional basis adjustments triggering §743 (transfer of interests) and §734 (distributions).
- Calculating a Partner’s Outside Tax Basis and Overview of At-Risk Rules
J. Patrick Garverick is one of the most admired and best-reviewed Tax Speakers in the country and we are offering the classes at a much-discounted price. His courses have been best-reviewed by audiences for:
- Quality of Content
- Relevance and Practical Case studies
- Best Teaching Approach
- Best Course Material
Awards and Accolades
- Award for Instructor Excellence for California Education Foundation
- Award for Outstanding Course materials for California Education Foundation.
- Rated top tax instructor in nearly every location he has presented
- One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge.
During this CE webinar, you will get Free E-Book worth $200. The book will be shared with you during the webinar. The book is copyright protected.
Free E-Book Worth $200
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- To inspect how to form a partnership and calculate the partnership’s initial inside tax basis in the assets and the partner's outside tax basis in the entity.
- To analyze how to elect out of Subchapter K.
- To discuss the implications of failure to attach Form 8832 to its Tax return.
- To identify different methods of allocating pre-contribution gain or loss.
- To analyze the partner's capital account, schedule-K, Item L.
- To determine the penalty for late filing of partnership return- §6698.
- To identify the allocation of income, deductions, and credits to a partner (§ 702 and § 1.702-1).
- To calculate a partner/member’s outside basis and determine if losses and deductions are limited on their individual income tax return.
- This IRS-approved CE course is for any Professional or Staff interested in learning more about Partnership Formation to Liquidation.
- This online CE webinar is recommended for CPA, EA, AFSP, CRTP, MRTP, O