TPGS
SURGENT McCOY'S 2007 ANNUAL TAX-PLANNING GUIDE FOR
S CORPORATIONS, PARTNERSHIPS, AND LLCS

The purpose of this practical course is to focus on planning issues in creating, operating, and liquidating S corporations, partnerships, and LLCs. This course is essential for CPAs in public accounting and industry who advise these entities or their investors.

Major topics include:

  • Update on latest cases, rulings, and regulations
  • How to handle liabilities of LLCs
  • Planning opportunities and pitfalls in determining basis -- recourse and nonrecourse debt issues for LLCs, and much more
  • Partnership planning -- Structuring partnership distributions and transfers of interests
  • Optional basis adjustments -- §§754 and 732(d)
  • Basis and distribution issues in the S corporation
  • Redemptions and liquidations of S corporations
  • Compensation in S corporations
  • Sale of a partnership -- the best planning concepts
  • What you need to know about family pass-throughs -- Estate planning, family income splitting, and compensation planning
  • Making the manufacturers’ deduction work
  • Late-breaking tax legislation

Designed for: CPAs in public accounting and industry who want to learn planning strategies relevant to S corporations, partnerships, and LLCs.

Level of knowledge: Intermediate

Field of study: Taxes