With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs a partnership/LLC course focusing on the hottest tax topics and most frequently encountered issues. This case-driven course will deal with both partnership/LLC and partner/member developments addressing the most common, yet complex Federal partnership/LLC issues and problems. This webinar will review partnership tax law by looking at case studies addressing issues and problems at both the partnership and partner levels. Each attendee will receive the most comprehensive reference manual with numerous practice aids and real-world examples and case studies. Topics include but are not limited to:
An extensive review of the partnership tax laws with an emphasis on any new legislative changes (SECURE & CURES Act) including the Tax Cuts & Jobs Act (TCJA) 20% qualified business income (QBI) deduction and changes to the interest deduction, fringe benefits, and entertainment expenses
Overview of different forms of business entities including the check-the-box regulations
Formation issues including the mandatory allocation of the §704(c) pre-contribution gain or losses back to the contributing partner/member
Schedule K and K-1 – separately & non-separately stated income and expense items
Substantial economic effect requirement to have special allocations to the partners/members
Allocation of recourse & non-recourse debt on K-1s
Guaranteed payment issues and tax treatment of fringe benefits
Self-employment tax issues and pitfalls
§754 optional basis adjustments and mandatory adjustments
Tax treatment of distributions - cash versus non-cash & liquidating versus non-liquidating
Overview of a partner/member’s outside basis and deductibility of losses
J. Patrick Garverick is one of the most admired and best-reviewed Tax Speaker in the country and we are offering the classes at a much-discounted price during the pandemic. His courses have been best-reviewed time and again
For Quality of Content
For Relevance and Practical Case studies
For Best Teaching Approach
For 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.
After registering for this webinar you will get Free E-Book worth $200. The book would be emailed to you, a day before the webinar on your registered email address on myCPE. The book is copyright protected.
Learning Objectives
To form a partnership and calculate the partnership’s initial inside basis in the assets and partner’s outside basis in the entity
To understand how the schedule K items get allocated to the partners/members on their individual Schedule K-1
To prepare a partnership’s initial tax and §704(b) book capital accounts and understand their purpose
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
Pat Garverick is a Certified Public Accountant who currently lives in the Phoenix, Arizona area. He began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began operating his own tax and financial planning business. He also started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country.
In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®). This role serves to enhance the knowledge he brings as he writes and presents continuing education material. Mr. Garverick is a member of the Arizona Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Pat has presented continuing education sessions throughout the country and has won awards for both his skills as an instructor as well as for the content he has created. His knowledge, expertise, and high energy have made him one of the profession’s most highly rated speakers. He is in a very small group of instructors that are both extremely knowledgeable and interesting.
During his time in college, Pat earned a letter as a member of the Ohio State Basketball squad. He remains a staunch supporter of the sports programs at his alma mater.
Awards & accolades
Multi-time winner of the California Education Foundation’s 1) Award for Instructor Excellence and 2) Award for Outstanding Course materials
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.
Phoenix Beach was developed to provide comprehensive and up-to-date educational content for business professionals of all types. As part of our mission we strive to make sure that the material we present is delivered by knowledgeable and skilled instructors so our session participants receive a great educational experience and value.
FAQ
To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.
Refund/Cancellation Policy
For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).
Testimonial
4.7
(23)
74%
22%
4%
0%
0%
MR
Marie Rogers, EA
Nov 26th 2020
Excellent presentation by Patrick. Although new to the subject matter, I feel confident enough, after some studies of the related tax regulations, to seek out doing tax prep and planning partenership customers relating to section 704. Understanding the each concepts felt natural for me in being able interpret what he intended to teach. Nothing about his delivery was confusing to me at all, He was clear and concise, and I look forward to learning and gaining more in-depth knowledge more from Patrick on this subject matter.
LB
Laurie Braverman, CPA
Dec 3rd, 2020
I'm a PhD CPA, full professor. I've been attending these webinars as a break from my usual CPE regime. I was stunned by the depth of this presentation as many of these webinars, by design, just hit on the surface. Twenty minutes into this webinar I had to link in a colleague as this webinar was knowledgeably discussing points that we had researched in the past. The examples were clear and concise. The presentation was spot on. We noticed how well he covered for a math mistake he made in an example. How he acknowledge the error, corrected it and then expanded on the example.
BD
Barbara Davis, AFSP
Nov 24th, 2020
This presentation regarding Partnership Allocation was very informative and presented with a highly skilled technical presenter that gave examples for different kinds of fact situations. However, the information could had been extended maybe an hour longer or more. Excellent Presenter!
SB
Sarah Ball, EA
Nov 19th, 2020
Patrick gave a very educative and informative webinar with lots of facts and simple illustrative examples, especially using himself and Jason as partners. I learned a lot from webinar, 704 (c) Scenario illustrations were useful but difficult to grasp. I did learn a lot from the presentation
AT
Aneta Thurlow, AFSP
Oct 29th, 2020
Great presentation! I enjoyed listening to the presenter and gained valuable knowledge about Amending Tax Returns and more... Time well spent. Thank you so much for sharing your expertise and knowledge. The quality of this course and others that I have taken are good and they are reasonably priced for the material presented.
JH
Jessica Hetzler, EA
Oct 22nd, 2020
This webinar came at a very good time as I am in the process of amending a return. All the question I had were answered in this discussion and I am very appreciable of the knowledge I gained. thank you very much. he presenters are good and display a wealth of knowledge.
