COURSE #: 2020092438
INSTRUCTOR: Robert Nelson, JD, CPA
8 CE hours
Course platform to be determined as we receive updates on COVID-19 guidelines.
Nonmembers CPAs pay an additional $21.25 per credit hour for CE classes; nonmember CPAs will be held responsible for paying this additional amount.
The purpose of this course is to provide a comprehensive understanding of basic and advanced partnership/LLC tax issues as well as an in-depth analysis of new Section 199A (Qualified Business Income 20% Deduction) for planning and reporting purposes. Specifically, the course will address the following issues:
- formation issues (i.e. taxability, profits interests)
- new 3 year holding period for carried interests
- new Section 199A (Qualified Business Income 20% Deduction)
- new business interest expense 30% limitation
- new choice of entity considerations
- distribution planning
- special allocations
- capital accounts
- sections 704c, 704(b), 736, 751 and 754
- debt allocation and losses
- partnership agreements
- K-1s and Form 1065
- Texas Franchise Tax planning
- IRS audit considerations
To provide a comprehensive understanding of basic and advanced partnership/LLC tax issues as well as an update on tax law changes.
Prerequisites: The method of presentation is group-live instruction and the program level is basic to intermediate. There are no prerequisites for this course nor is there any advanced preparation required