Partnership Formation & Operation: Tax Considerations Webinar (4 Hours)

The tax rules for partnerships are complex, and the need for tax professionals to understand the opportunities and pitfalls that these rules present has never been greater.

This webinar will provide an overview of the key aspects of partnership law and their tax implications, including the types of partnerships and limited liability companies/partnerships and how they interact.
 

AGENDA HIGHLIGHTS

Introduction to Partnerships

•  Partnership entity

•  Key aspects of partnership law and tax implications

•  Review types of partnerships and Limited Liability Companies/Partnerships

•  Electing out of Subchapter K

•  Check-the-box regulations
 

Operational Issues

•  Tax year and accounting methods

•  Items required to be stated separately

•  Partnership and partner elections

•  Other operational issues
 

Formation of the Partnership

•  Contributions of property and cash, no gain or loss

•  Contribution of property if fair market value and basis differ under Section 704(c) rules

•  Contribution of services in exchange for a partnership interest
 

LEARNING OBJECTIVE  To teach tax professionals about the important components of partnership law and how they impact taxation.

PREREQUISITE  Basic knowledge of federal taxation.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Basic.
NASBA FIELD OF STUDY  Taxes.    DELIVERY METHOD  Group Internet-Based.