Limited Liability Companies: Losses, Liquidations, Terminations, Continuations, and Sales

Description

The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.

Highlights

Partnership losses:  when are they deductible?

Death or retirement of a member or partner-Understanding the alternatives

Continuation and termination in the contest of a merger or acquisition

Sales of an LLC interest-holding period and hot asset issues

Objectives

Identify the limitations on an investor's ability to deduct LLC losses

Discuss the tax consequences of a liquidation of a partner's interest

Describe the options when a partnership terminates or continues following an acquisition or merger

Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership

Designed For

CPAs with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies.