Surgent's Annual Tax-Planning Guide for S Corporations, Partnerships, and LLCs

Overview

As long as LLCs, partnerships, and S corporations form the backbone of many CPAs' practices, in-depth knowledge of all tax aspects of these entities will be essential. The purpose of this practical course is to focus on planning issues in creating, operating, and liquidating S corporations, partnerships, and LLCs. This course is essential for CPAs in public accounting and industry who advise these entities or their investors.

Prerequisites

A basic course in partnership theory and S corporation theory

Objectives

Highlights

• Wrapping up issues related to COVID-19 legislation
• Update on latest cases, rulings, and regulations including the final regs
• How to handle liabilities of LLCs
• Planning opportunities and pitfalls in determining basis and amounts at risk -- recourse and nonrecourse debt issues for LLCs, and much more
• Section 199A pass-through deduction planning
• Partnership planning -- Structuring partnership distributions and transfers of interests
• Optional basis adjustments -- §§754 and 732(d)
• Planning for the utilization of §179 and for the phase out of bonus depreciation
• Basis, distribution, redemption, and liquidation issues of S corporations
• Compensation in S corporations
• Sale of a partnership -- the best planning concepts
• What you need to know about family pass-throughs -- Estate planning, family income splitting, and compensation planning
• Partnership and LLC allocations
• A brief look at possible future changes to the taxation of pass-through entities
  

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