Crucial Partnership Tax Insights Part 1: Buying or Selling a Partnership Interest and Reducing Phantom Income WEB

Monday, June 7 9:30am - 11:30am PDT

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2.0 Credits

Member Price $79.00

Non-Member Price $94.00

Overview

We’ll take a deep dive into successful tax planning strategies for purchasing a partnership interest and selling a partnership interest. We’ll also cover considerations in drafting a “mandatory tax distributions” provision so that your clients don’t end up with “phantom income.” We’ll also cover tax strategies for minimizing gain when forming a partnership.

Highlights

What business arrangements constitute a partnership for federal tax purposes. And why is it crucial to understand this. Partnership basis rules. Using the “liability netting” rules to avoid gain on the formation of a new partnership. Reduce the chances that your client will end up with “phantom income.” Picking the best Schedule 704(c) allocation method for your client. Computing bonus depreciation on partnership step-ups under Schedule 743. Qualifying for a Schedule 199A deduction when your client sells their partnership interest.

Prerequisites

None.

Designed For

CPAs and EAs.

Objectives

Learn to protect your clients from phantom income based upon a mandatory tax distributions provision. Identify which income qualifies for the Section 199A QBID when selling a partnership interest.

Preparation

None.

Notice

None.

Leader(s):

Leaders

George Koutelieris

4.90 stars out of 5 - speaker rating for 2019 for George Koutelieris and Gregory White

“These 2 rock. [They are] prepared and knowledgeable.”
“George & Greg always do a great job! They are always super helpful.” - past attendees

George Koutelieris, CPA, is a shareholder with the firm Johnson & Shute P.S. He subsequently received his Master’s in Taxation from Golden Gate University graduating with Highest Honors in 2010 and being awarded the Outstanding Graduate Tax Student Award for the Seattle campus of Golden Gate. He is currently an Adjunct Professor at Golden Gate University teaching various tax courses. George’s practice includes planning and consulting on complex transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners. In addition, George provides compliance and representation services before the IRS and various state taxing agencies for clients. George is also an active speaker on various tax topics, having presented in the past for Golden Gate University, the Washington Society of Certified Public Accountants, and the Oregon Society of Certified Public Accountants. George Koutelieris and Greg White are available to teach in-house courses in tandem for company CPE needs.

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Non-Member Price $94.00

Member Price $79.00