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Limited Liability Companies: Losses, Liquidations, Terminations, Continuations, and Sales

Monday, Jun. 2
 1:00pm - 4:30pm

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4.00 Credits

Member Price $140.00

Price will increase by $20 after 5/26

Non-Member Price $205.00

Price will increase by $20 after 5/26

Overview

The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.

Objectives

  • Identify when distributions are taxable, including disguised sales and the tax on pre-contribution gain
  • Discuss the tax consequences of a liquidation of a partner's interest
  • Describe the options when a partnership terminates or continues following an acquisition or merger
  • Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership
  • Highlights

  • When are distributions taxable?
  • Miscellaneous issues, including the critical difference between 736(a) and 736(b) payments
  • Sales of an LLC interest -- holding period and hot asset issues
  • Designed For

    Accounting and Financial Professionals with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies

    Prerequisites

    A beginning course in LLCs/partnerships; experience with LLC/partnership clients

    Preparation

    None

    Notice

    By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

    Leader(s):

    Leader Bios

    William Taylor

    WILLIAM F. (Bill) TAYLOR, CPA Water Valley, Mississippi William F. (Bill) Taylor, CPA is President of Lifetime Financial Solutions, LLC, a financial coaching firm, and a CPA in private practice. Since retiring as Community Bank President of Renasant Bank in Water Valley, MS, he has served as an adjunct assistant professor in the MBA program at the University of Mississippi. Bill has worked in the employee benefit and investment fields for over 25 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS, office of KPMG Peat Marwick and managing his own firm since 1999. A nationally known consultant and speaker, Bill has conducted seminars for the American Institute of Certified Public Accountants, the American Society of Pension Professionals & Actuaries, CPA and bar associations in 45 states, and many private organizations. He has been awarded both the AICPA Outstanding Discussion Leader award and the James L. McCoy Discussion Leader of the Year Award from Surgent CPE. Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications.

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    Non-Member Price $205.00

    Member Price $140.00