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A New Look at Partnerships and LLCs After Tax Reform


Total Credits: 8 including 8 Taxes - Technical

Average Rating:
   4.7
Category:
Partner Produced |  Tax
Faculty:
Douglas J. Van Der Aa, CPA, JD
Course Levels:
Intermediate
Duration:
8 Hours
License:
Access for 30 day(s) after program date.


Description

This course examines the critical challenges and opportunities facing partnerships and their partners after the December 2017 passage of the Tax Cuts and Jobs Act. The new Section 199A deduction will be examined, as well as the 30% interest expense limitation. The new partnership audit rules that are now taking effect will be unraveled, together with the new IRS requirement for tax basis partner capital information. Practical planning tips and potential pitfalls will be discussed.

Basic Course Information

Learning Objectives
  • Define the tax consequences and various liabilities for both partnerships and LLCs
  • Apply planning opportunities and potential pitfalls

Major Subjects
  • 2017 Tax Cuts and Jobs Act
    • Section 199A 20% deduction.
    • 30% interest limitation.
    • Comparison of S corporations, LLCs and Partnerships.
  • New Partnership Audit Rules.
  • New IRS requirement for tax basis partner capital information
  • Active vs. passive income.
  • Determining partner basis.
  • Self-employment tax issues, guaranteed payments and fringe benefits.
  • Capital accounts.
  • Built-in gains and losses.

Course Materials

Faculty

Douglas J. Van Der Aa, CPA, JD Related seminars and products: 9


Doug has been a discussion leader for Federal Tax Workshops, Inc., for the past 11 years. He is a lively and energetic speaker – especially on the subject of taxes and ethics, and has extensive experience in leading discussions in conferences, seminars and webinars. He is a regular and highly rated speaker, and seminar leader for CPA associations and other organizations throughout the country. Doug has over 25 years of professional experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. As a CPA, Doug's practice concentrated on the tax needs of closely held businesses, with their related pass-through entities, complex individual returns, estates and trusts. Doug taught for 10 years as an Adjunct Instructor and for one year as Assistant Professor of Accounting and Taxation for Grand Valley State University’s Seidman College of Business, where he taught in both the undergraduate and MST programs. He earned his Bachelor of Arts degree with a major in accounting from Dordt College and his Juris Doctor from the University of Illinois College of Law.


Dates

Mon, Dec 16, 2019 - 09:00a to 04:44p EST
Wed, Jan 08, 2020 - 08:00a to 03:44p EST

Additional Info

Basic Course Information

Prerequisites A basic working knowledge of partnership taxation
Advanced Preparation None
Designed For Practitioners with partnership clients and those seeking knowledge on thorny partnership issues
Original Recording Date 05/17/2019
Yellow Book No
Course Developer MICPA
Date Added to Catalog 04/05/2019

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. 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
Instructional Delivery Method Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

Reviews

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Overall:      4.7

Total Reviews: 17

Comments

Mary L

"FANTASTIC!"

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