Back to Search

Four Tiers of Loss Limitations: A Guide to the New Rules for Pass-through Entities Webinar

CPE

When
May 21
1:00 - 4:30 p.m.

CPE Credits
4-Tax

Details

 Pricing

PICPA Member: $139 | Nonmember: $189


 More Information

Course No.
FTL4-2019-01-WEBNR-141-01
Level
Intermediate
Prerequisites
Basic familiarity with loss allowance rules of pass-through entities
Note
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.

Description

Owners of S corporations and partnerships are subject to numerous limitations on pass-through losses, each with unique rules, applications, and complexities. With the increase in popularity of pass-through business entities, it is essential for CPAs to understand the complexities and interactions of these pass-through loss limitations.

Highlights

  • Analyze how basis in an ownership interest in a pass-through entity is established
  • Discuss how activity of the entity, distributions, and optional adjustments increase or decrease basis
  • Discuss when basis is "at-risk" under section 465, and the resulting loss disallowance and carryforward related to basis that is not at-risk
  • Define passive activities under section 469 and exceptions to the passive loss rules
  • Discuss when and how aggregation of activities should be used to avoid the passive loss rules
  • Analyze new section 461(l) created by the Tax Cuts and Jobs Act of 2017 and understand the limitation calculation and resulting carryforward
  • Analyze the hierarchy of the loss limitations with examples of the application of the four tiers of losses and how they interact


Speaker(s)

Mike Frost, CPA

Mike Frost, CPA, of Albertville, Alabama, provides tax consulting, continuing education, and motivational speaking services through his company, Mike Frost Enterprises. Mike is a former shareholder of MDA Professional Group, PC, where he managed the tax department of the Albertville office. Mike has 27 years of experience in public accounting, including but not limited to: Business and individual income tax preparation and planning; mergers and acquisitions; estate, gift, and trust tax preparation; small business consulting; Medicare planning and other elder care; audit representation; and religious groups and clergy.

Mike has conducted CPE engagements and seminars throughout the United States and has served as technical advisor for tax articles in The Sand Mountain Reporter, a local newspaper. Mike has been a featured presenter at the Alabama Society of CPAs Annual Meeting and the Federal Tax Clinic held annually at the University of Alabama in Tuscaloosa. 

Mike graduated with "high honors and distinction" from Jacksonville State University with a major in accounting and a minor in finance and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants and the Alabama Society of Certified Public Accountants. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA. 

 

 


You May Also Like

Conference on Pennsylvania Taxes
July 30 | Malvern
Get an update on the latest developments and planning opportunities related to Pennsylvania taxes. ...
Conference on Pennsylvania Taxes
Aug. 1 | Cranberry
Get an update on the latest developments and planning opportunities related to Pennsylvania taxes. ...
Multistate Tax Conference
Oct. 29 | Malvern
Hear about recent tax filing requirements and tax planning opportunities for companies and individuals doing multistate transactions. ...