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Tax Fundamentals of LLCs and Partnerships - Tax Staff Essentials
CPE Self-study

Tax Fundamentals of LLCs and Partnerships - Tax Staff Essentials

Provides you with a firm grasp of the fundamental concepts.LLC and partnership taxation.

$149 - $209
Do you have an AICPA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Taxes

Level

Basic

CPE Credits

10.5

Author(s)

Robert Ricketts, Larry Tunnell

Availability

1 year

Learning Outcomes
  • Identify the effects of investor contributions and distributions on their basis in a partnership or LLC interest
  • Calculate the tax basis of assets transferred to a partnership or limited liability company (LLC) at formation
  • Recognize the tax consequences of a transfer of liabilities to a partnership or LLC in connection with property transfers at formation
  • Calculate the partner's or member's remaining basis in his or her interest following a distribution of cash or property from the partnership or LLC
  • Calculate the amount of the guaranteed payment when the partner is to receive the lesser of a fixed dollar amount or a fixed percentage of partnership income
  • Distinguish the difference between "book" allocations required under Section 704(b) and "tax " allocations required under Section 704(c)
  • Identify the potential economic consequences to a partner or LLC member of a special allocation
  • Recognize whether special allocations required under Section 704(c) have been made on a partnership or limited liability company (LLC) tax return
Key Topics
  • Basic Tax Structure of Partnerships and LLCs
  • Electing to be Taxed as a Partnership: The "Check-the-Box " Rules
  • Tax Consequences of Partnership or LLC Formation
  • Partnership Distributions
  • Compensatory Payments to Partners
  • At-Risk and Passive Activity Limits
  • Profit and Loss Allocations: General Rules and Restrictions
  • Reporting Taxable Income for Partnerships and LLCs
Product Details

Save when you buy the complete Tax Staff Essentials, Level 1 online bundle..

LLC taxation and partnership taxation are complex areas of our Internal Revenue Code. If you are new to the subject, or if you have worked in this area for years but need a quick review, this course is for you.

This CPE self-study course will provide a firm grasp of the fundamental concepts, help you to build a strong foundation of knowledge, and freshen up your skills.

Learn about the tax consequences of the most common transactions engaged in by LLCs and partnerships. Develop a level of comfort with the basic conceptual framework underlying partnership and LLC taxation, with an emphasis on explaining the tax consequences associated with issues that are most frequently confronted by tax practitioners.

Who Will Benefit
  • Public accounting staff, seniors, and tax professionals in company finance or tax departments
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
Online
$209.00
AICPA Members
Online
$169.00
Tax Section Members
Online
$149.00

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
10.5
NASBA Field of Study
Taxes
Level
Basic
Prerequisites
None
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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Tax Fundamentals of LLCs and Partnerships - Tax Staff Essentials
Select from the following options:
Online
$209.00
Nonmember Price
$209.00
Price excluding sales tax
$209.00
Do you have an AICPA membership? 
Log in to apply your member discount.
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