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Advanced Taxation Partnerships & LLCs - Tax Staff Essentials
CPE Self-study

Advanced Taxation Partnerships & LLCs - Tax Staff Essentials

Master the advanced concepts of partnership taxation, so you can provide your clients with valuable advice and tax planning strategies.

$179 - $249
Do you have an AICPA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Taxes

Level

Advanced

CPE Credits

11

Author(s)

Robert Ricketts, Larry Tunnell

Availability

1 year

Learning Outcomes
  • Distinguish between “book" allocations required under Section 704(b) and “tax" allocations required under Section 704(c).
  • Recognize the three methods described in the Section 704(c) regulations to make special allocations with respect to contributed property.
  • Calculate the gain that can result from reallocation of liabilities when a partner joins a partnership.
  • Calculate a partner's or member's share of recourse liabilities of a partnership or LLC.
  • Calculate the basis of each property received by a partner receiving multiple properties in a liquidating versus non-liquidating distribution from a partnership or LLC.
  • Determine when an IRC Section 754 election will allow a partnership or LLC to adjust its basis in its assets.
  • Allocate required basis adjustments among partnership or LLC assets.
  • Determine the tax consequences associated with the sale of a partner's or member's interest in a partnership or LLC.
  • Determine the tax consequences associated with subsequent dispositions of built-in gain or loss assets following a technical termination.
Key Topics
  • Allocation of partnership and LLC income under Section 704(b)
  • Allocations with respect to contributed property: Section 704(c)(1)(A)
  • Allocation of partnership recourse liabilities under Section 752
  • Allocation of partnership nonrecourse liabilities and related Deductions under sections 752 and 704(b)
  • Advanced distribution rules
  • Adjustments to the basis of partnership or LLC assets
  • Sale of an interest in a partnership or LLC
  • “Hot" assets and Section 751(a)
  • Section 754 Elections
  • Section 734(b) and 743(b) Adjustments
  • Section 708 Technical Termination
Product Details

Save when you buy the complete Tax Staff Essentials, Level 4 online bundle.

Gain good working knowledge of the IRC's sophisticated partnership tax rules and regulations so you can effectively serve your business and individual partner clients.

Master the advanced concepts of partnership taxation so you can provide your clients with valuable advice and tax planning strategies, updated with the most recent legislation and IRS guidance affecting partnerships and LLCs.

Learn more about special allocations, liquidating and nonliquidating distributions, property basis calculations under various scenarios, and sales of a partnership interest.

Table of contents

Who Will Benefit
  • Managers and partners in public accounting who assist clients with tax planning for closely held LLCs and partnerships
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
Online
$249.00
AICPA Members
Online
$199.00
Tax Section Members
Online
$179.00

Looking for group pricing?

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

Contact us
Credit Info
CPE Credits
Online
11
NASBA Field of Study
Taxes
Level
Advanced
Prerequisites
Basic Knowledge of Business Taxation
Access
Online
This is a digital product. You will have access to the content for 1 year after purchase date.
Instructors
Robert Ricketts
Ph.D., CPA
"Robert Ricketts is the Director of the School of Accounting in the Rawls College of Business at Texas Tech University. He has been a member of the Accounting faculty since 1988 and has held the Frank M. Burke Chair in Taxation since 1999. Prior to earning his Ph.D., which he received from the University of North Texas in 1988, he worked for the Dallas office of Ernst & Whinney (now Ernst & Young) as a tax senior. Ricketts' tax scholarship addresses a broad audience. He co-authors several courses on partnership taxation for the AICPA, and a forthcoming book on comparative taxation written by an international group of authors. He also contributes chapters to a leading undergraduate textbook on taxation, and has numerous academic publications on issues ranging from the risks of over-reliance on tax software to the response of multinational corporations to tax holiday legislation. He teaches at both the undergraduate and graduate levels, and works extensively with doctoral students. His love for students, and for Texas Tech, is well-known by students, colleagues and alumni across the world."
Larry Tunnell
Ph.D., CPA
Accessibility

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Advanced Taxation Partnerships & LLCs - Tax Staff Essentials
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Online
$249.00
Nonmember Price
$249.00
Price excluding sales tax
$249.00
Do you have an AICPA membership? 
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