Tax Planning for Partners, Partnerships, and LLCs eBook (excluding IRS forms)

Tax Planning for Partners, Partnerships, and LLCs is a unique, all-in-one resource that covers BOTH partner/partnership and limited liability company (LLC) tax issues.
Publisher: Matthew Bender
eBook :epub
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ISBN: 9781579111489
Publisher: Matthew Bender
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Book Edition: 38

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Tax Planning for Partners, Partnerships, and LLCs is a unique, all-in-one resource that covers BOTH partner/partnership and limited liability company (LLC) tax issues. This publication makes available clear and direct explanations of some of the most staggeringly complex portions of the Internal Revenue Code, related regulations and rulings, and court cases. To help you put the rules into practice, it is filled with examples and includes numerous computational illustrations. Plus, Tax Planning for Partners, Partnerships, and LLCs is packed with practice tips and cautions to alert you to tax planning opportunities and steer you around potential pitfalls. Everything you need to know about tax law affecting partners, partnerships, and LLCs is contained here, including:

  • What are the special rules applicable to tax shelters?
  • What issues are involved in the tax classification of economic relationships?
  • What are the tax accounting rules for partnerships and LLCs?
  • How are taxes determined when distributions are made to partners or LLC members?
  • How is basis in a partnership/LLC interest determined and how is it adjusted as the entity is involved in transactions and changes in partners/members?
  • What are the special rules for transactions between partners/members and a partnership or LLC?
  • What are the tax effects when partnership/LLC property is distributed to partners or members?
  • How does one comply with the special rules for family partnerships/LLCs?
  • What are the tax consequences when a partner/member dies?
  • What are the tax consequences when a partnership/LLC is acquired, sold, or terminated?
  • What are the IRS procedures and reporting requirements for partnerships/LLCs?

    Tax Planning for Partners, Partnerships, and LLCs is the essential source for answers and concrete guidance on your questions concerning both partner/partnership and LLC tax issues. Its straightforward approach and hands-on, practical examples will make this your fundamental reference tool for partnership and LLC taxation.
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    Table of Contents

    PART 1: OVERVIEW



    Chapter 1: Introduction to Taxation of Partnerships and Limited Liability Companies

    Chapter 2: Tax Classification of Economic Relationships



    PART 2: OPERATING ISSUES



    Chapter 3: Tax Accounting for Partnerships and Limited Liability Companies

    Chapter 4: Distributive Shares

    Chapter 5: Basis in Partnership/LLC Interest

    Chapter 6: Limitations on Partner's and LLC Member's Deduction for Losses

    Chapter 7: Transactions Between Partners/Members and Partnership/LLC

    Chapter 8: Distributing Partnership/LLC Property to Partners or Members



    PART 3: FAMILY PARTNERSHIPS AND LLCs



    Chapter 9: Family Partnerships and Limited Liability Companies



    PART 4: CHANGES IN INTEREST



    Chapter 10: Liquidating Payments to a Retiring Partner/Member or a Decedent's Successor

    Chapter 11: When a Partner or LLC Member Dies

    Chapter 12: Selling or Exchanging a Partnership or LLC Interest

    Chapter 13: Acquiring a Partnership or LLC Interest By Contribution

    Chapter 14: Terminating a Partnership or LLC



    PART 5: TAX PRACTICE



    Chapter 15: Partnership/LLC Procedures and Reporting Requirements

    Chapter 16: Sample Partnership/LLC Agreements and Sample Forms