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

Description

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.

Highlights

• Update on latest cases, rulings, and regulations
• How to handle liabilities of LLCs
• Planning opportunities and pitfalls in determining basis -- recourse and nonrecourse debt issues for LLCs, and much more
• Planning for the provisions of the Tax Cuts and Jobs Act of 2017, including entity choice reevaluation
• Partnership planning -- Structuring partnership distributions and transfers of interests
• Optional basis adjustments -- §§754 and 732(d)
• Update on Small Business Health Reimbursement Arrangements
• How to take advantage of the new §179 and bonus depreciation rules of the Tax Cuts and Jobs Act of 2017
• 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
• Other provisions of the Tax Cuts and Jobs Act of 2017, with emphasis on its impact on pass-throughs and their owners

Objectives

• Identify current issues that practitioners are most often called on to address
• Be familiar with planning techniques employed in dealing with the life cycle of pass-through entities
• Distinguish the roles S corporations and partnerships/LLCs play in the changing tax environment
• Evaluate the impact of the Tax Cuts and Jobs Act of 2017 on pass-through entities
• Be familiar with the results of the case studies that reinforce key learning points

Designed For

CPAs in public accounting and industry who want to learn planning strategies relevant to S corporations, partnerships, and LLCs.