2018 Summer Tax


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2018 Summer Tax

Partnership and LLC Issues

2018 Summer Tax Self-Study

How will tax reform affect LLCs?

  • Compute IRC §199A deduction correctly
  • Uncover what new information must be provided on the K-1
  • Investigate the issue of guaranteed payments and how they affect the deduction
  • Discover what will change with the elimination of technical terminations

Partnership TEFRA audits: It’s happening this year

  • See when to make the election and what happens if you don’t
  • Find out how to make the election
  • Understand how audit adjustments will now affect members/partners
  • Find out if a new member/partner can be assessed for an old partner’s problem
  • Uncover the state complexities

Formation — understand:

  • The taxation of contribution of assets
  • The difference between capital and profit interests
  • When you should not form an SMLLC
  • Who can and should be an LLC
  • Why you might want to make special allocations in the agreement

Operation — discover how to:

  • Make use of important elections
  • Report the IRC §754 election on the K-1
  • Compute income when the partnership agreement has special allocations
  • Report insurance and other benefits for members/partners
  • Properly compute the balance sheet
  • Prepare the K-1 correctly
  • Compute withholding on foreign and nonresident members

Dissolution — see how to:

  • Compute tax for members
  • Prepare final accounting
  • Properly wrap up and formally cancel the LLC or LP

California issues — uncover:

  • The LLC annual tax and fee
  • The FTB’s position on which LLCs must file in California
  • Current assessments of fees and penalties
  • The best ways to handle LLC/FTB problems

Designation CPE Hours
CPA 8 Tax
EA 8 Federal Tax
CRTP (CTEC) 8 Federal Tax
Attorney 6.75 General MCLE

Course level: Intermediate
Basic knowledge of partnerships is required.

Attendees of Spidell’s 2018 Summer Tax Seminar, Live Webinar, and On-Demand Webinar are not eligible for this course.

Want to order by phone? Call us at: (714) 776-7850

Customer service representatives available Monday – Friday 7:00 a.m. – 5:00 p.m. PT.

This self-study is designed to meet the requirements for 8 hours of continuing education for CPAs (CFPs do not receive credit for webinar or self-study versions of this course); 8 hours of Federal Tax for EAs and CRTPs, and 6.75 hours of General MCLE credit for attorneys. This self-study has been designed to meet the requirements of the IRS Return Preparer Office; including sections 10.6 and 10.9 of Department of Treasury’s Circular No. 230 (Provider No. CRA7E); the California State Board of Accountancy; the California Bar Association; and the California Tax Education Council. This does not constitute an endorsement by these groups. The state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. For more information regarding administrative policies such as complaints or refunds, contact Spidell Publishing at 714-776-7850. Spidell Publishing, Inc. has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA 95812-2890, or by phone at 877-850-2832, or on the internet at www.CTEC.org.

Spidell Publishing, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. This self-study is designed to meet the requirements for 8 hours of continuing education for the California Board of Accountancy. Level: Intermediate. Field of Study: Taxes. Delivery method: Self-Study. For more information regarding administrative policies, such as complaints or refunds, contact Spidell Publishing at (714) 776-7850. Basic knowledge of partnerships is required.

Spidell Hours

Tax 8
Fed Tax 8
Fed Tax 8
MCLE 6.75


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