Individual Tax Series

Partnership Taxation (Updated - 2)

Course Overview
The course will examine tax issues relating to the formation and operation of partnerships. Participants will gain a familiarity with basic areas of partnership taxation so as to recognize a problem and have at hand some practical knowledge for its solution.



Learning Objectives:

After completing this course, the course participant should be able to:

  • Recognize the tax treatment of partnerships specifying advantages and disadvantages and their effect on income attribution.
  • Determine partnership income and reporting requirements by:
    - Identifying filing requirements and the impact partnership K-1's on individual or partner taxation; and
    - Specifying loss deduction limitations and stating the tax treatment of guaranteed payments, organizational expenses and other fees.
  • Identify the tax treatment of contributions of property to a partnership under §721 and the impact on tax basis.
  • Recognize the tax treatment of partnership distributions and sale of partnership interests by:
    - Identifying the tax treatment of partner liabilities and of sales and exchanges of partnership interests and property; and
    - Determining the differences between liquidating and nonliquidating payments including the definition of a partner's basis on such an event.

  • Content Partner:

    SmartPros Ltd.

    SmartPros Ltd. is a leader in online and offline continuing education for
    accounting, finance and engineering professionals. With over 2,000 hours of
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    Prerequisites/Advanced Preparation:

    Basic knowledge of federal income tax principles

    Speaker / Author:

    Danny earned his Bachelor of Arts in Political Science from the University of California at Irvine in 1969. He received his Juris Doctorate from Boalt Hall School of Law, University of California at Berkeley in 1972, at which time he began practice as a tax attorney in Southern California.

    His legal career started with the business and litigation firm of Edwards, Edwards and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines & Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter and Leanders, in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law and estate planning.

    Danny has been an officer and active member in various organizations including the Glendale Bar Association, Century City Bar Association, 0range County and Los Angeles County Bar Associations, California State Bar Association, Toastmasters and Lions Club. He has been admitted to practice before all California and federal courts including the United States Tax Court and the United States Supreme Court.

    Serving as a lecturer for the Continuing Education of the Bar of California, Golden Gate University, and numerous state C.P.A. societies, Danny teaches a variety of tax, business and real estate courses. Danny is in demand all across the country as a speaker for all levels of professional and civic organizations and numerous major seminar circuits.

    The author of 28 texts, Danny speaks to over 2,000 people per month and travels more than 150,000 miles annually. He is listed in “Who’s Who in Creative Real Estate” and is admitted to the American Exchangor’s Hall of Fame.

    Software & Hardware Requirements:

    • 56k or Greater Internet Connection
    • Adobe Acrobat® Reader for the .pdf files
    • Adobe® Flash® Player 9 or higher
    • Modern DHTML Compatible Browser
    • Ram: 256 MB minimum
    • Windows or Mac OS

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    Price (USD)

    Standard Rate: $49.90

    Details

    Course Code : 99SANT07-v2

    Release Date : 11/30/2018
    Expire Date : 11/30/2020
    Credits :
    CPE 2.00
    QAS 2.00

    Length : 1hr 40min
    Course Level : Overview
    Course Type : Self-Study
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Taxes

    Theme : Individual Tax Series

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