Partnership Essentials: Tax Basis Capital Accounts & More

Thursday, August 25 8:00am - 11:30am

(Check-In 7:30am)

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Hilton Garden Inn

2465 Grant Rd
Billings, MT 59102

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4.00 Credits

Member Price $138.00

Price will increase by $25 after 8/4

Non-Member Price $163.00

Price will increase by $25 after 8/4

Overview

All materials will be electronic only

The IRS has made some game-changing updates on the reporting of partnership basis. This course examines the critical issues and special opportunities facing partnerships and their partners, as well as the relationship between limited liability companies and partnerships. New tax basis and capital accounting reporting rules will be addressed, as well as the impact of recent legislation on the tax structure of partnerships and LLCs and the significant impact of the new Section 199A flow-through entities deduction on partnerships.

Highlights

  • Recent tax legislation, rulings and developments affecting Partnerships and LLCs
  • Basis and capital account reporting on Form 1065 Schedule K-1
  • New Section 163(j) interest expense deduction
  • Transportation fringe benefits
  • Section 754 self-employment tax

Prerequisites

Basic working knowledge of partnerships and LLCs.

Designed For

Practitioners with partnership clients and those seeking knowledge on thorny partnership issues.

Objectives

Upon completion of this course you will be able to:

  • Define the tax consequences and various liabilities for both partnerships and LLCs.
  • Discuss the impact of the new Section 199A deduction on partnerships.
  • Apply planning opportunities and potential pitfalls.

Preparation

None

Leader(s):

Leader Bios

Doug Van Der Aa

Douglas J. VanDerAa, CPA, JD, has been a discussion leader for Federal Tax Workshops, Inc., East Lansing for the past 6 years. He is a lively and energetic speaker – especially on the subject of taxes and ethics, and has extensive experience in leading discussions in conferences, seminars and webinars.

Doug is a regular and highly rated speaker and seminar leader for the Michigan Association of Certified Public Accountants, as well as other organizations throughout the country.

Doug has over 20 years of experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. Formerly, Doug was a Tax Manager with Hungerford, Aldrin, Nichols & Carter, P.C. in Grand Rapids, Michigan, where his practice concentrated on the tax needs of mid-sized closely held businesses, with their related pass-through entities, complex individual returns including AMT issues, estates and trusts.

Most recently, Doug served a one-year term as Assistant Professor of Accounting and Taxation for Grand Valley State University’s Seidman College of Business, where he taught in both the undergraduate and MST programs.

He earned his Bachelor of Arts degree with a major in accounting from Dordt College and his Juris Doctor from the University of Illinois College of Law.

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Non-Member Price $163.00

Member Price $138.00