THE FUNDAMENTALS OF FORMING A PARTNERSHIP, LLC OR LLP
In this seminar you'll learn...
How to avoid common partnership problems before they materialize
How your business approach changes when you use a partnership, limited liability company or limited liability partnership
Key taxation guidelines for the different partnership forms
What the Uniform Partnership Act and its revised version mean to your company
And much more!
You owe it to yourself to start asking the tough questions: Equal partners? Who will manage the business? What´s the financial split? What´s each partner´s liability? To get your business off on sound footing, you need answers to these questions and so many more. In one information-packed day, you´ll learn all the important aspects of setting up your business structure and each of the important, but necessary, details that go along with each business structure decision you make. Make the right move by enrolling in the workshop today!
WORKSHOP AGENDA
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What are your options when it comes to partnering in business?
Understanding the pros and cons of partnering vs. sole proprietorships and S and C corporations
The many forms and degrees of the basic partnership structure
General business issues for partnerships, LLCs and LLPs
The key taxation issues for partnerships, LLCs and LLPs
What the rules of the Uniform Partnership Act and its revised version mean to you
Understanding Single Member LLCs and their disregarded entity status
How to form the partnership arrangement you need
Partnerships and the aggregate and entity theories
Understanding partnership employment and equity compensation consequences
The differences between a partner or member´s guaranteed payment and employee compensation
How draws work ... and should your partnership allow them
Profit retention for business needs
Self-employment tax issues that arise through partnerships, LLCs and LLPs
The pros and cons of equity compensation and how to work within Internal Revenue Tax Code guidelines
How to plan so tax regulations work in your favor
Partnerships, LLCs and LLPs from the state and federal tax officials´ view
How to make sense of the "Check the Box" regulations
How to stay on top of your partnership´s financial statements
Considering accounting methods and your partnership´s taxable year
Tax returns and the various company structures
Ways for partnerships to handle property contributions
What to do when it comes to contributing services to your partnership
Pass-through status and your personal and business entity taxes
Understanding foreign or international partnerships and their special tax considerations
A look at special allocations and how to determine distributive shares
Deciphering allocation regulations and how your capital account is figured
Allocation requirements from Internal Revenue Code Section 704(b)
How to make sense of allocations involving contributed property
Partnership deductions limited by basis and "at risk issues" from IRC Sections 704(d) and 465
How to interpret the rules regarding passive loss
Special considerations for family partnerships
The in´s and out´s of partnership distributions
The two forms of current distribution and what they mean to your partnership
Liquidating distributions that retire a partner´s interest
How the restrictive law works regarding property distributions to partners who contributed property
Distribution of unrealized receivables and substantially appreciated inventory
How the IRS views inter-partner and inter-partnership transactions
A review of tax basis, holding periods and partnership interest transfers
The basics of basis rules
How partnership liabilities affect your partnership
Holding period rules and regulations
The tax consequences of interest transfers
Comparing transfers to liquidations or asset sales
What the IRS says about transfers and partnership asset distribution
Section 732(d): Transferee partners distribution
What happens when a partner dies or withdraws from the partnership
Handling business termination, mergers and acquisitions and common partnership problems
When the Internal Revenue Service considers a partnership to be over
A closer look at the sale or exchange of a half interest in the partnership
What termination means to the partnership and its members
Proven ways to find the professional legal and partnership tax expertise when developing your concern
How to find your state´s rules and regulations regarding your partnership, LLC or LLP
Create a working operating agreement to solve challenges before they arise
The IRS and invalid partnerships
How to protect a partnership from a departing partner
Creative ways to solve disputes and disagreements
US/Canada:
1-800-867-4340
United Kingdom:
0800 968254
Australia:
1 800 145 233
New Zealand:
0800 447 299
or e-mail us at:
onsite@skillpath.net
1-800-867-4340
United Kingdom:
0800 968254
Australia:
1 800 145 233
New Zealand:
0800 447 299
or e-mail us at:
onsite@skillpath.net
