Advanced Tax Strategies for LLCs and Partnerships

Sprache: Englisch

Verlag: John Wiley and Sons Inc, US, 2018

1119512395 / 9781119512394

Serie: Buch 7 von 63 - AICPA

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What works best for clients? Learn the pros and cons of the LLC, general partnership, limited partnership, and limited liability partnership by focusing on planning and potential tax traps. This title offers a review of distinct advantages of these entities coupled with an examination of the risk members and partners face if they do not have a solid tax plan to minimize their exposure. In addition, the authors explore some of the more intricate rules and regulations of these entities so you can move your working knowledge of partnership and LLC taxation beyond the basics. This book prepares the reader to do the following: Analyze a partnership or LLC agreement to determine whether any special allocations in the agreement will be allowed under Code Section 704(b)Identify the potential economic consequences of special allocations to a partner or LLC memberIdentify the potential tax consequences when a partner or LLC member has a negative balance in his or her capital accountRecognize the relationship between partnership and LLC allocations of profit and loss and the allocation of the risks and rewards of entity operationsDistinguish between the requirements for substantiality and those for economic effect under the regulationsDistinguish between "book" allocations required under Section 704(b) and "tax" allocations required under Section 704(c)Recognize the three methods described in the Section 704(c) regulations to make special allocations with respect to contributed propertyDetermine when a non-contributing partner or LLC member will or will not be protected by required allocations under Section 704(c)Calculate the gain that can result from reallocation of liabilities when a partner joins a partnershipCalculate a partner's or member's share of recourse liabilities of a partnership or LLCDistinguish between recourse and nonrecourse liabilities of a partnership or LLCAnalyze the impact of a partner or LLC member's guarantee of a recourse or nonrecourse liability of the entityRecognize when to treat a liability as a recognized versus contingent liability and understand how to account for partnership or LLC contingent liabilitiesCalculate the basis of each property received by a partner receiving multiple properties in a liquidating vs. non-liquidating distribution from a partnership or LLCRecognize which properties will receive a step-up or step-down in basis when multiple properties are received from a partnership or LLCAllocate basis increases or decreases among multiple properties for federal income tax purposesDetermine when an Internal Revenue code (IRC) Section 754 election will allow a partnership or LLC to adjust its basis in its assetsAllocate required basis adjustments among partnership or LLC assetsDetermine the tax consequences associated with the sale of a partner's or member's interest in a partnership or LLCRecognize how using the installment method to account for the sale of a partnership interest will affect how the partner will re.

Bestandsnummer des Verkäufers LU-9781119512394

Titel
Advanced Tax Strategies for LLCs and Partnerships
Autor
Larry Tunnell, Robert Ricketts
Verlag
John Wiley and Sons Inc, US
Veröffentlichungsjahr
2018
Zustand
New
Einband
Paperback
Sprache
Englisch
ISBN-10
1119512395
ISBN-13
9781119512394
Artikelgewicht
474 Gramm
Serie
Buch 7 von 63: AICPA

Rarewaves.com USA

London, London, Vereinigtes Königreich

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AbeBooks-Verkäufer/-in seit 11. Juni 2025

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