Understanding Partnership and LLC Taxation PDF Download

Author: Jerold A. Friedland
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 652

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Author: Friedland
Publisher: Wiley-Blackwell
ISBN: 9781422486696
Category :
Languages : en
Pages :

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Author: Larry Tunnell
Publisher: John Wiley & Sons
ISBN: 1119722322
Category : Business & Economics
Languages : en
Pages : 256

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This book helps addresses the tax consequences of the most common transactions engaged in by limited liability corporations (LLCs)and partnerships. You will develop a level of comfort with the basic conceptual framework underlying partnership and LLC taxation, as well as gain an explanation of the tax consequences associated with issues most frequently confronted by tax practitioners. Topics covered include: basic tax structure of partnerships and LLCs; electing to be taxed as a partnership: "check-the-box" rules; tax consequences of partnership or LLC formation; partnership distributions; compensatory payments to partners; at-risk and passive activity limits; profit and loss allocations: general rules and restrictions; and reporting taxable income for partnerships and LLCs.

Author: Felix Lessambo
Publisher: Kluwer Law International B.V.
ISBN: 9403533846
Category : Law
Languages : en
Pages : 146

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Book Description
As the number of businesses registered as partnerships continues to grow in the United States (U.S.)—there are now more than seven million—it is imperative for parties with business interests in the country to be fully informed of the challenges pertaining to this sui generis form of business and its intricate body of tax law. In an illustrative manner not covered by other books on the subject, this invaluable guide discusses, analyzes, dissects, and helps resolve issues arising in such contexts as accounting methods, anti-abuse rules, liabilities, dissolutions, mergers, and bankruptcy, with expert guidance on preparing partnership financial statements. With numerous boxed examples and references to important court cases, the author thoroughly describes such topics as the following: types of partnerships (LP, LLP, LLC, PTP); the two concepts of partnerships; partnership formation; transactions between partnership and partners; allocation of revenues among partners; the partnership taxable year; base erosion and anti-abuse tax (BEAT); centralized partnership audit regime; recourse and nonrecourse liabilities; and special tax rules for publicly traded partnerships (PTPs). Key abstract concepts are explained in a down-to-earth way, and all formal requirements—filing the partnership tax return (Form 1065), reporting, preparing for an audit, and so on—are clearly illustrated with examples. As the first book to describe the economics of partnerships in a concise and comprehensive manner, this book provides a reliable and authoritative overview of the complexities of U.S. partnership taxation and expounds the relevant rules in accessible language. It will be warmly welcomed by tax law practitioners, members of international and U.S. tax law associations, tax academics, and the international business communities with interests in the U.S.

Author: George K. Yin
Publisher: Aspen Publishing
ISBN: 1543823580
Category : Law
Languages : en
Pages : 464

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Book Description
In this concise, tightly edited casebook, George K. Yin and Karen C. Burke emphasize core principles and policies to help students understand the overall structure and coherence of partnership taxation. The book’s organizational structure bridges concepts learned in the introductory income tax course and those presented in advanced tax courses, by offering a “building-block” approach that progresses from basic to complex partnership transactions. By emphasizing the policy choices that lend structure and coherence to the law, Partnership Taxation facilitates an understanding of the overarching principles of partnership tax. Students learn the law from basic source material—the Code and regulations—as well as tightly edited cases and other guidance. Many problems, questions, and explanations supplement the presentation to guide students through the challenging material. New to the Fourth Edition: The Fourth Edition reflects developments through February 2020, including: Expanded discussion of choice-of-entity issues in light of significant changes introduced by the 2017 tax legislation, including the 21% corporate tax rate and the section 199A passthrough deduction Revised regulations concerning allocation of partnership liabilities, including disregarded bottom-dollar payment obligations The temporary expensing deduction under section 168(k), as well as new limitations on business interest deductions and excess business losses New section 1061 imposing a three-year capital gain holding period for service partners receiving partnership interests in certain investment partnerships The revised definition of a “substantial built-in loss” under section 743(b) and repeal of the technical termination rule under section 708 Professors and students will benefit from: Approach: This book emphasizes core principles and policies to help students understand the overall structure and coherence of partnership taxation. Organization: The organizational structure bridges concepts learned in the introductory income tax course and those presented in advanced tax courses; “building-block” approach progresses from basic to complex partnership transactions. Depth: By providing in-depth coverage while avoiding unnecessary detail, the revised Fourth Edition facilitates mastery of the material and prepares students to think rigorously and creatively about the kinds of problems they will encounter as practitioners of tax and business law. Lenny faces are short character strings that describe emotions and make your text stand out.

Author: Robert Ricketts
Publisher: CCH
ISBN: 9780808016465
Category : Business & Economics
Languages : en
Pages : 582

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Practical Guide to Partnerships and LLCs (3rd Edition), by Robert Ricketts and Larry Tunnell, discusses the complex issues involving partnership taxation with utmost clarity. It uses hundreds of illustrative examples, practice observations, helpful charts and insightful explanations to make even the most difficult concepts understandable. The book reflects the authors' penchant for communicating the pertinent facts in very direct language and creating a context for understanding the multifaceted issues and applying them to practice.

Author:
Publisher:
ISBN:
Category : Articles of partnership
Languages : en
Pages : 1548

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Author: Robert Ricketts
Publisher: CCH Incorporated
ISBN: 9780808046479
Category :
Languages : en
Pages : 0

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Practical Guide to Partnerships and LLCs (7th Edition), by Robert Ricketts and Larry Tunnell, discusses the complex issues involving partnership taxation with utmost clarity. It uses hundreds of illustrative examples, practice observations, helpful charts and insightful explanations to make even the most difficult concepts understandable. The book reflects the authors' penchant for communicating the pertinent facts in very direct language and creating a context for understanding the multifaceted issues and applying them to practice.

Author: Robert Ricketts
Publisher:
ISBN: 9780808057406
Category :
Languages : en
Pages : 608

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Book Description
Practical Guide to Partnerships and LLCs (10th Edition), by Robert Ricketts and Larry Tunnell, discusses the complex issues involving partnership taxation with utmost clarity. It uses hundreds of illustrative examples, practice observations, helpful charts and insightful explanations to make even the most difficult concepts understandable. The book reflects the authors' penchant for communicating the pertinent facts in very direct language and creating a context for understanding the multifaceted issues and applying them to practice. This new edition fully reflects all the latest developments in this complex area. These include changes affecting: - partnership basis adjustments - transfers to partnerships of property with built-in losses - sale of an interest in a partnership with built-in loss property - disproportionate distributions from partnerships with built-in loss property - expensing and amortization of partnership organizational expenses - partnership treatment of the deduction for domestic production activities - recognition of cancellation-of-indebtedness income, and more In six parts, Practical Guide to Partnerships and LLCs covers the critical aspects of this complicated area, with individual parts focusing on partnership characteristics, funding, taxation of operations, partner's share of partnership debt, disposition of partnership interest, and distributions. From choice-of-entity considerations to sales and liquidations, the entire breadth of partnership and LLC taxation is covered. Special attention is given throughout to the complex inter-workings of rules that bind, tax and control these entity operations. In the book's first part focused on preliminary considerations, the basic underpinnings are presented covering key areas such as the check the box rules, anti-abuse rules, investment joint venture rules, the application of partnership taxation to LLCs, liability issues, passive loss limitations, audit issues, self-employment taxes, IRS classification, tax year and accounting method selection, and much more. The second part of Practical Guide to Partnerships and LLCs looks at property contributions and disguised sales, transactions between partner and partnership, and formation and start-up expenses. A special summary table for the tax treatment of pre-opening expenses is included. Next, the central core of the book explains the taxation of operations including partnership income rules, the pass-through concept, and the partner's share of income and debt. Specific rules, reporting and compliance issues are thoroughly addressed. Form 1065 and schedules L, M-1, M-2, K and K-1 are also explained. Part four covers partner's share of partnership debt, while disposition of a partnership interest is the subject of the fifth part of Practical Guide to Partnerships and LLCs. This section covers the amount and character of the seller's gain or loss, sales of partnership interest when the partnership holds ordinary income property and the effect of sale of partnership interest on the partnership. The final part covers distributions, including nonliquidating, liquidating, special distribution exceptions, and disproportionate distributions. This section also includes coverage of the death or retirement of a general partner and special rules for service partnerships. The detailed and substantial coverage in the text is enhanced by the abundant illustrations and special aids to understanding, such as flowcharts, offered throughout. Practical Guide to Partnerships and LLCs will be a great resource all tax practitioners, students and those interested in developing their knowledge of partnerhip and LLC taxation..

Author: Larry Tunnell
Publisher: John Wiley & Sons
ISBN: 1119749034
Category : Business & Economics
Languages : en
Pages : 208

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Book Description
Are you ready to master the advanced concepts of partnership taxation? Provide your clients with valuable advice and tax planning strategies and gain a working knowledge of the Internal Revenue Code's sophisticated partnership tax rules and regulations. This book takes a deep dive into the complexities of partnership tax law. It includes step-by-step examples to help guide you through the complicated world of advanced partnership and LLC tax law. Some of the many concepts covered in this course include special allocations, liquidating and non-liquidation distributions, property basis calculations under various scenarios, and sales of a partnership interest.