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Tax and Revenue Management
Taxation of Pass Through Business Entities
Overview:
Introduction:
The taxation of pass-through business entities, such as Subchapter S corporations, partnerships, and limited liability companies, under U.S. federal income taxation is covered in this training program.It focuses on the requirements of Subchapters S and K of the Internal Revenue Code that apply to the creation, management, and dissolution of pass-through organizations, as well as the associated Treasury Regulations and judicial decisions.
Program Objectives:
At the end of this program, the participants will be able to:
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Avoid double taxation.
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Simplify tax filing processes.
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Effectively manage and monitor business income.
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Gain expertise in partnership and corporate taxation, or advance LL.M. studies.
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Expand their professional practice into business entity taxation.
Targeted Audience
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Members of the financial accounting team.
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Finance managers and employees in cost and management accounting.
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Budget supervisors.
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Experienced lawyers.
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Financial commitment and participants in the project.
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Members of the acquisition team and investment analysts.
Program Outline:
Unit 1:
Partnership Formation:
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Partnerships.
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Legal Framework.
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Special Basis Concepts.
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Other Issues.
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Nonrecognition Provision.
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Basis Determination & Holding Period.
Unit 2:
Partnership Operations:
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Income Measurement & Reporting.
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Partner’s Distributive Share.
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Outside Basis Adjustments.
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Partners' Deduction for Qualified Business Income.
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Partner Loss Limitations.
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Related Transactions.
Unit 3:
Partnership Distributions:
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Concepts.
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Applications.
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Disproportionate Distributions.
Unit 4:
Partnership Sales and Terminations:
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Seller.
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Buyer.
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Special Basis Adjustment.
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Other Dispositions.
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Partnership Termination.
Unit 5:
Taxation Considerations:
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Initial Costs.
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Accounting Methods.
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Tax Year.
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Applications.