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Everything You Need to Know About Partnerships

4.6 (11)

Nicholas Preusch

Nicholas Preusch

Monday, June 14, 2021 | 10:00 AM EDT

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CTEC

7 Credits

$70

Subject Area

Taxes

Webinar Qualifies For

7 CPE credit of Taxes for all CPAs

7 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00545-21-O)

7 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0526)

7 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00545-21-O)

7 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00545-21-O)

7 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-T-00545-21-O)

7 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

Aug 02, 2021 | 10:00 AM EDT Register

Course Description

Creating the partnership agreement and setting up the proper entity/structure for the partnership are the two most important steps in the partnership process. Understanding the mechanics of how your business will be managed is the key to designing your partnership agreement and documenting the terms.

This online CPE course aims to provide tax professionals with a comprehensive understanding of basic and complex partnership taxation issues. You'll be equipped to identify problems and opportunities in transactions involving partnership formation, transactions with partners, basis, partnership distributions, allocations, and other key areas.

This online continuing education course covers all the aspects of partnerships from its formation to liquidation.

This online CPE webinar covers the following key topics-

  • Partnership formation
  • Operations of a partnership
  • Administration issues
  • Income allocations
  • Basis and debt allocations
  • Basis considerations, including inside and outside basis
  • Transactions with owners
  • Distributions
  • Passive activity rules
  • The Section 199A qualified business income deduction
  • Basic adjustments under IRC 754
  • Sale or liquidation of the partnership interest

Learning Objectives

  • To discuss the basis of partnerships
  • To discuss types of partnership
  • To determine how special allocations work
  • To discuss accounting methods and other operating rules
  • To discuss tax treatment for partnerships

Who Should Attend?

  • Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals

Testimonial

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    [average] => 4.6364
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4.6

(11)
64%
36%
0%
0%
0%

RB

Very informative

ML

The instructor was very good! I do have an issue though. This is my second CPE class. I am not a CPA, I am a MBA but work closely in real estate accounting for private investors. My perspective on the program is that the instructor seems to go slowly through the first part, actually explaining what partnerships are...which is something a CPA should have known already, for quite some time. The last few sections of the program move much quicker, and reference several IRS codes. I am not sure if the CPA should know those codes offhand like that, much like the partnership structure? The program seems to go VERY fast through those items. Anyway, love the classes and will keep attending!