Annual Tax Planning Guide for S Corporations, Partnerships, and LLCs

Focus on planning issues in creating, operating, and liquidating S corporations, partnerships, and LLCs. Identify current issues that practitioners are most often called on to address. Distinguish the roles S corporations, partnerships, and LLCs play in the changing tax environment.
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
• Partnership planning: Structuring partnership distributions and transfers of interests
• Optional basis adjustments: Sections 754 and 732(d)
• Basis and distribution issues in the S corporations
• Redemptions and liquidations of S corporations
• Compensation in S corporations
• Sale of a partnership
• What you need to know about family pass-throughs, including estate planning, family income splitting, and compensation planning
• Partnership and LLC allocations
• Late-breaking tax legislation, with emphasis on its impact on pass-throughs and their owners