Key Tax Principles and Strategies Applicable to Pass-through Entities

Robert J. Feenan, CPA, Joshua Becker, Esq., Lance Weiss, CPA, CVA, Michael J. Tucker, JD, CPA (moderator)
  • 3
  • Intermediate
  • Taxes

3-hr. course: $89; 4-hr. course: $129
Volume Discounts:Click here for details.

Overview

Many clients do business as either S corporations or multiple-member limited liability companies treated as partnerships for federal tax purposes, so tax practitioners should know and be able to employ the more advanced federal tax rules that apply to these entities. This program will focus on advanced partnership or S corporation tax rules that general practitioners are likely to encounter as they advise clients subject to such rules. The broadcast will take into account any 2017 tax law changes impacting pass-through entities.

Major Topics:

  • Partnership and S corporation formation issues
  • Deemed sale transactions between partners and partnerships
  • Partnership and S corporation terminations, acquisitions and mergers
  • Making a Section 754 election and making corresponding adjustments under Sections 743(b) and 734(b)
  • Basis rules for partners and S corporation shareholders
  • Self-employment tax and Social Security issues for partners and S corporation shareholders
  • Tax treatment of partnership and S corporation distributions, both liquidating and non-liquidating
  • Effect of liabilities on owners’ basis accounts

Learning Objectives

  • Understand advanced partnership tax topics that present problems in practice
  • Apply the tax rules that apply differently to partnerships and to S corporations
  • Determine the tax character of a partnership distribution or an S corporation distribution
  • Understand the consequences to making a Section 754 election

Any tax practitioner who wishes to understand the principal tax issues impacting S corporations and partnerships and their owners

Experience with handling basic partnership tax returns and issues relating to partnerships and multiple-member LLCs treated as partnerships

None

Yes

Yes

Varies by state. Click here for details