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Live Webcast Replay

Partnerships/LLC: Tax Basis Capital Accounts


Total Credits: 2 including 2 Taxes - Technical

Average Rating:
   5
Category:
ACPEN Tax Institute |  Ethics |  IRS Approved
Speaker:
Steven C. Dilley, CPA, JD, PhD
Course Levels:
Intermediate
Duration:
2 Hours
License:
Access for 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Description

This program addresses the most recent developments impacting partnerships operating as LLCs, with a focus on legislative, administrative, and tax form changes. Emphasis will be placed on partners "tax basis" capital accounts, now required for tax form reporting.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Basic Course Information

Learning Objective
  • Apply recent tax developments affecting the partnership entity and its partners

Major Subjects
  • Discuss the impact of the Section 199A flow-through entities deduction on partnerships and their partners
  • The meaning of a "tax basis capital account"
  • How the financial accounting and tax capital accounts differ from one another
  • Determine a partner's share of the partnership's liabilities
  • Distinguish "recourse" loans from "nonrecourse" loans
  • What are "qualified nonrecourse financing" loans and how they affect partners
  • Section 704 "built-in gain or loss" rules and how they impact Schedule K-1 reporting
  • Section 4655 "at risk" rules and how they impact Schedule K-1 reporting

Course Materials

Speaker

Steven C. Dilley, CPA, JD, PhD's Profile

Steven C. Dilley, CPA, JD, PhD Related seminars and products


Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.


Dates

Sat, Feb 04, 2023 - 01:00pm to 02:55pm CST
Thu, Feb 16, 2023 - 09:00am to 10:55am CST
Mon, Feb 20, 2023 - 01:00pm to 02:55pm CST
Thu, Apr 06, 2023 - 09:00am to 10:55am CDT
Fri, Apr 14, 2023 - 01:00pm to 02:55pm CDT
Sat, Apr 29, 2023 - 09:00am to 10:55am CDT
Mon, May 01, 2023 - 01:00pm to 02:55pm CDT
Sat, May 06, 2023 - 09:00am to 10:55am CDT
Tue, May 16, 2023 - 01:00pm to 02:55pm CDT
Mon, Jun 05, 2023 - 09:00am to 10:55am CDT
Thu, Jun 08, 2023 - 01:00pm to 02:55pm CDT
Mon, Jun 12, 2023 - 09:00am to 10:55am CDT
Fri, Jun 30, 2023 - 01:00pm to 02:55pm CDT

Additional Info

Basic Course Information

Prerequisites

Basic working knowledge of partnership taxation


Advanced Preparation

None


Designed For

CPAs in public practice and industry seeking an update on the latest tax developments affecting partnerships.


Original Recording Date

10/2022


Yellow Book

No


Course Developer

Federal Tax Workshop


Date Added to Catalog

10/11/2022


Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (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: www.nasbaregistry.org


Instructional Delivery Method

Live Group Internet Based


Course Registration Requirements

Online Registration


Refund/Cancellation Policy

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


Reviews

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Overall:      4.4

Total Reviews: 5

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