The Best Scorporation, Limited Liability, & Partnership Update [BCPE Fbx]

Full Description

The Best S Corporation, Limited Liability, and Partnership Update

October 28, 2010
Fairbanks, Alaska

$295 AKCPA Member Fee
$370 Non Member Fee

If you are a practitioner who wants the latest information on tax changes affecting your business clients or employers, then you should take this enlightening course. You will learn invaluable knowledge, strategies, techniques, innovative tax-planning concepts, income-generating ideas, and other planning opportunities available to S corporations, partnerships, LLCs, and LLPs.

Major topics include:
Coverage of all of the business tax changes under tax reform
A review of the key cases, rulings, and tax law changes affecting S corporations, partnerships, limited liability companies, and limited liability partnerships
Choice of entity issues
Partnership conversions
Basis issues: at-risk, passive activities
Service partners: capital interests, profits interest, or option
Self-employment taxes: are there major changes affecting S corporation shareholders on the horizon?
Impact of health care changes on pass-through entities
Liabilities: recourse and nonrecourse
LLCs and LLPs: the critical tax issues involving admission of new members; the contribution of property or services to the entity; the effect of liabilities on basis; fringe benefit issues; the death or retirement of an owner; the sale of an interest in the business
Debts between entity and the investors: open-account and written debt
Determining whether a member is a limited member
Tax nothings
Practice aids and tax-planning worksheets
Any late-breaking tax legislation

Objectives
Understand the major issues on which taxpayers and the Service are in conflict
Understand how tax reform effects planning for pass-throughs
Understand what pass-throughs can do in light of health care and COBRA changes

Who Will Benefit
All tax practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes affecting their business clients or employers.

Level: Update

Prerequisite: Experience with pass-through entity clients

Acronym: BCPE

Discussion Leader: Susan Smith, CPA
Susan manages her own firm specializing in tax planning for individuals and business owners. Smith spent 14 years as a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership specialized practice units. While at Peat Marwick, Smith led the real estate and tax practices locally.

Smith is a frequent speaker at tax conferences and has been an associate adjunct professor at Widener University in the masters in taxation program. Her ratings have consistently exceeded 4.5 on a scale of 5.0. With regard to her education, she earned her Bachelor of Business Administration degree, with an accounting concentration, in 1978.