CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Partnership Basis: Inside and Out

Icon_Webcast
Webcast
Icon_Level
Update
Credits
CPE Credits
2 Credits: Taxes

Course Description

Complete and accurate partnership basis calculations, inside and outside, offer substantial tax savings for partner loss utilization and reducing tax on excess distributions or the sale of a partnership interest. Partnership basis is currently an IRS compliance target and we need to understand the many recent changes for partnership basis K-1 reporting as the individual or the business tax preparer we need confidence in our basis reporting skills. We need strong skills related to the many components of basis; allocating profit, losses, and other Schedule M-1 adjustments, partnership contributions, loans to the partnership, loan guarantees, distributions, partner benefits, sale of a partnership interest, distributions of partnership assets and more.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  1. Determine accurate basis for partners and develop strategies for troubleshooting basis issues.
  2. Calculate and track accurate inside and outside partnership basis with a strong understanding of the complex components of basis.
  3. Develop valuable tax strategies and tax planning moves to maximize a partner’s tax benefits for utilizing pass through losses and minimizing tax on distributions and sale of a partnership interest.
  4. Learn the latest changes to partnership K-1 basis reporting requirements.
  5. Understand other basis issues related to loss limitations, taxable distributions, compliance risk and tax planning.

Course Specifics

Course ID
WC1822274468
Revision Date
January 10, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01972-22-O
IRS Federal Tax Update Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1710
CTEC Federal Tax Update Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Jane Ryder, EA, CPA

Jane Ryder, EA, CPA is the owner of Brass Tax Ryder Professional Group, Inc., a full service tax and accounting firm. Brass Tax (not affiliated with Brass Tax Presentations) has been providing tax and accounting services since 1980. Jane received a BS in Business Administration (Accounting) from SDSU and is currently licensed with the California State Board of Accountancy and with the Internal Revenue Service as an Enrolled Agent. Brass Tax is a business centric practice, preparing and consulting on the preparation of Corporations, S-corporations, LLC’s, Partnerships, and Trusts. She also specializes in IRS and state agencies collection problems, payment …

Jane Ryder, EA, CPA Read More »

Partnership Basis: Inside and Out

Expert Instructors
CPE CREDITS
2 Credits: Taxes

$98.00


Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.

Icon_Webcast
Webcast
Icon_Level
Update
Credits
CPE Credits
2 Credits: Taxes

Course Description

Complete and accurate partnership basis calculations, inside and outside, offer substantial tax savings for partner loss utilization and reducing tax on excess distributions or the sale of a partnership interest. Partnership basis is currently an IRS compliance target and we need to understand the many recent changes for partnership basis K-1 reporting as the individual or the business tax preparer we need confidence in our basis reporting skills. We need strong skills related to the many components of basis; allocating profit, losses, and other Schedule M-1 adjustments, partnership contributions, loans to the partnership, loan guarantees, distributions, partner benefits, sale of a partnership interest, distributions of partnership assets and more.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  1. Determine accurate basis for partners and develop strategies for troubleshooting basis issues.
  2. Calculate and track accurate inside and outside partnership basis with a strong understanding of the complex components of basis.
  3. Develop valuable tax strategies and tax planning moves to maximize a partner’s tax benefits for utilizing pass through losses and minimizing tax on distributions and sale of a partnership interest.
  4. Learn the latest changes to partnership K-1 basis reporting requirements.
  5. Understand other basis issues related to loss limitations, taxable distributions, compliance risk and tax planning.

Course Specifics

Course ID
WC1822274468
Revision Date
January 10, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01972-22-O
IRS Federal Tax Update Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1710
CTEC Federal Tax Update Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Jane Ryder, EA, CPA

Jane Ryder, EA, CPA is the owner of Brass Tax Ryder Professional Group, Inc., a full service tax and accounting firm. Brass Tax (not affiliated with Brass Tax Presentations) has been providing tax and accounting services since 1980. Jane received a BS in Business Administration (Accounting) from SDSU and is currently licensed with the California State Board of Accountancy and with the Internal Revenue Service as an Enrolled Agent. Brass Tax is a business centric practice, preparing and consulting on the preparation of Corporations, S-corporations, LLC’s, Partnerships, and Trusts. She also specializes in IRS and state agencies collection problems, payment …

Jane Ryder, EA, CPA Read More »

Partnership Basis: Inside and Out

Expert Instructors
CPE CREDITS
2 Credits: Taxes

Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.

$98.00