The Top Five Tax Issues in Dealing with LLCs and Partnerships

Nov 19
8:00 - 11:30 a.m.

Penn State Great Valley - Main Bldg
Malvern - Map

4-Tax
CPE Credits

Identify and distinguish guaranteed payments, distributive shares, and draws liquidating distributions of cash or property. Understand the relationship between capital account maintenance and outside basis adjustment. Examine various partnership liabilities and explain the tax consequences of each
Highlights

Capital accounts: book vs. tax issues
Dealing with debt: recourse, nonrecourse, and why it matters
Determining basis: key issues and technical analysis in calculating basis
Guaranteed payments, distributive shares, and draws: understanding the difference
Summary of important provisions of the Tax Cuts and Jobs Act