- NY Credits : 10.0
- TX Credits : 10.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 10.0
The partnership has become a very popular vehicle for conducting commercial affairs over the past several years. Only part of this increase in the use of partnerships is attributable to growth in limited liability companies (LLCs) and family limited partnerships (FLPs); the real attraction is that partnerships have more flexibility than the Subchapter C or S corporations. This course will review the tax consequences of partnership formations, partner interest, distributions, and the changes to partnerships per the Tax Cuts and Job Act 2017 passed December 2017.
This course is most beneficial to professionals new to Partnerships and LLCs who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure.
Upon successful completion of this course, the user should be able to:
identify partnerships and partners for tax purposes,
identify the formation of a partnership or an LLC,
recognize the partner's basis in partnership interest,
recognize partnership and LLC tax accounting and reporting, and
identify the proper taxation of partnership and LLC distributions.