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Partnership Essentials: Tax Basis Capital Accounts and More

Total Credits: 8 including 8 Taxes - Technical

Average Rating:
Partner Produced |  Tax |  IRS Approved
Douglas J. Van Der Aa, CPA, JD
Course Levels:
8 Hours



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.

Basic Course Information

Learning Objectives
  • 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

Major Subjects
  • Recent tax legislation, rulings and developments affecting Partnerships and LLCs.
  • Basis and capital account reporting on Form 1065 Schedule K-1.
  • The impact of the Section 199A deduction on partnerships and LLCs.
  • New Section 163(j) interest expense deduction.
  • New rules on meals and entertainment expense reporting.
  • Transportation fringe benefits.
  • New partnership audit rules.
  • Opportunity zones.
  • Section 754 self-employment tax.

Course Materials


Douglas J. Van Der Aa, CPA, JD Related seminars and products

Doug Van Der Aa, CPA, JD, is a lively and energetic speaker on the subject of taxes and ethics, and has extensive experience in leading discussions for conferences, seminars and webinars. He is a highly rated speaker and seminar leader for state CPA societies and other organizations throughout the country.

Van Der Aa has more than 25 years of experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. His practice concentrated on the tax needs of closely held businesses, with their related pass-through entities, complex individual returns, estates and trusts.

Van Der Aa taught for 10 years as an adjunct instructor and for one year 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.

Additional Info

Basic Course Information

Prerequisites Basic working knowledge of partnerships and LLCs
Advanced Preparation None
Designed For Practitioners with partnership clients and those seeking knowledge on thorny partnership issues
Original Recording Date 6/4/2020
Yellow Book No
Course Developer

Doug Van Der Aa, CPA, JD

Date Added to Catalog 05/28/2020

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints., (972-377-8199).

Official Registry Statement

Business Professionals' Network, 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional Delivery Method

Group Internet Based

Course Registration Requirements

Online Registration

Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.



Overall:      4.4

Total Reviews: 33


Debra S

"I sent an email to all CPAs in our firm to take CPE that is presented by Doug Van Der Aa. He is hilarious and not a sleeper like most presenters. "

Lori S

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