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Course Level :Basic
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Credits :8
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Instructional Method :Group Internet Based
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Pre-requisites :None
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Advance Preparation :None
Initial partnership considerations go beyond registering the name, applying for identification numbers, and preparing the Articles of Organization. Key to the formation is a partnership agreement that spells out how day-to-day and sticky aspects of running a business are handled. Creating the partnership agreement and setting up the proper entity/structure for the partnership are the two most important steps in the partnership process.
Flexibility is a primary reason businesses select to operate as a partnership or LLC. Significant flexibility is allowed when initially funding the partnership. In addition to the known considerations, other key considerations are often overlooked. Transferring ownership and whether this right is unrestricted, payouts on the dissolution of the partnership, and the level at which capital accounts are required to be maintained should all be addressed at formation.
Partnerships have specific tax reporting requirements that are different from other businesses. Partnership taxes are a two-step process: The partnership as an entity must report income, gains, losses, credits, and deductions, like other businesses. However, partnerships don't pay taxes on the income. Instead, the partners pay taxes on their share of the partnership income they're paid.
Join Nicholas Preusch in this CE/CPE tax webinar to understand everything you need to know about partnerships and how to prepare partnership tax returns.
Following are the major topics covered in this online taxation course:
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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.
Certified Public Accountant (CPA), Nicholas Preusch
Nicholas has worked with the Internal Revenue Service as a
Revenue Agent and an Attorney with the IRS Office of Professional
Responsibility. Nicholas has authored publications for the AICPA’s Journal of
Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of
Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer
Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas
has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of
the AICPA’s Tax Executive Committee. Nicholas is an adjunct professor
at the University of Mary Washington. He is a graduate of Carthage College,
University of Connecticut (M.S. in Accounting), Case Western Reserve University
School of Law (J.D.), and Georgetown University (LLM in Taxation).
60 Ratings
OG
Aug 8th, 2022
I had a great experience learning the content and material. I would definitely recommend this course and the instructor for future CPE credits
CMH
Dec 20th, 2021
This was an excellent webinar
RB
Jun 13th, 2022
Very informative class!
JL
Dec 13th, 2021
very good experience.
RB
Jul 13th, 2021
Very informative
8 Credits
Subject Area
Aug 22, 2022 | 09:00 AM EDT
Aug 22, 2022 | 10:00 AM EDT
Aug 22, 2022 | 10:00 AM EDT
Aug 22, 2022 | 10:00 AM EDT
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