Case - Forms of Operating a Business, Taxable Year End & Accounting Issues

16 mins
Other Income Tax Return Filing Issues

44 mins
Contribution of Property

63 mins
Partnership formation & 704(c)

97 mins
Exception & Special rules

126 mins
Partnership Formation - Tax Basis & Capital Accounts

160 mins
Schedule K-1 Reporting - Net Investment Income

214 mins
Application to Partnerships & S corpirations

251 mins
Application to Partnerships

293 mins
Obligation to Make Payment

331 mins
Basis of distributed Property Other than Money

362 mins

Course Description

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 online continuing education course will deal with both partnership/LLC and partner/member developments addressing the most common, yet complex Federal partnership/LLC issues and problems.

This online CPE 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.

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.

During this webinar, you will get Free E-Book worth $200. The book will be shared with you during the webinar. The book is copyright protected.

Click for more online CPE/CE Courses:

AFSP CE Package (Incl. AFTR Course and Ethics)

EA CE Package (Incl. Federal Tax Updates and Ethics)

Package for Tax Practitioners (Incl. 2 hours Ethics)

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