2013-2014 Limited Liability Company (LLC) & Partnership Federal Tax Update (Currently Unavailable)

Author: Vern H.

Vern discusses the current Tax Codes, cases and rules affecting partnership and LLC taxation including reporting properly the husband and wife "qualified joint venture" business.

Follow along with Vern's comprehensive PDF manual containing hyperlinks to important rules and regs, included with purchase.

Publication Date: November 2013

Designed For
All tax practitioners, both public and industry, who need the latest - and necessary - tax changes for their clients.

Topics Covered

• Marveling that the Court allowed an LLC member to be both a limited and general partner for self-employment tax purposes
• Clarifying how an LLC member's guarantee of LLC debt may create "at risk" basis
• Understanding how Section 704(c) prevents shifting of income or loss between a partner and the partnership
• Reporting properly the husband and wife "qualified joint venture" business
• Emphasizing to our single-person LLCs that they may not have limited liability
• And closing with a discussion on abandoning a partnership interest

Learning Objectives

• Recognize key tax changes effective in 2013, affecting LLC and partnership taxation.
• Identify numerous tax issues and provisions impacting your clients' or employer's tax returns.
• Apply various tax rates and computations to scenarios just like those you see in your office, to better prepare you for the upcoming tax season.

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
A basic understanding of tax preparation.

Advance Preparation
None