This webinar will address how to comply with income tax reporting requirements for partnerships and partners, and how to use partnerships to satisfy clients’ objectives while complying with complex income tax requirements. Topics will include identifying partners and partnerships (including limited liability companies) for tax purposes; forming partnerships without triggering taxable gain or loss; allocating among partners tax items generally, built-in gain and built-in loss attributable to contributed property, and partnership liabilities; consequences of partnerships distributing cash and other property to partners generally and under the “disguised sale” rules; maintaining, adjusting, and distinguishing capital accounts and tax basis; computing partnership tax results and reporting them to partners; and alternative ways of a partner’s leaving a partnership and their tax consequences.
How to distinguish partnerships from other entities
How partners and partnerships are taxed
How to allocate taxable items and partnership liabilities among partners
How a partnership computes taxable income or loss and which items a partnership must “separately state” to partners
Tax consequences of selling a partnership interest or being redeemed by a partnership
Smith, Gambrell & Russell, LLP
Partner
[email protected]
4048153685
Joe’s practice focuses on corporate, tax and finance. He is involved with a wide variety of businesses and transactions, and has extensive experience in - Structuring M&A transactions, from both the buyer and seller sides; - Negotiating executive compensation arrangements (qualified and non-qualified); workouts, restructurings and bankruptcy; corporate transactions; partnerships and LLCs; financial products; - Tax aspects of real estate development, property finance, and like-kind exchanges; international transactions (both inbound and outbound); and - Tax-exempt organizations (including healthcare, advocacy and religious organizations). In addition to transactional work, Joe represents clients in tax controversy work, including audits, appeals, National Office submissions, and regulatory hearings, as well as Tax Court and District Court litigation Joe is a frequent writer and speaker on a variety of business, tax and finance topics. He has published almost 100 articles in journals or in-house newsletters, and has participated in over 60 presentations or seminars. His articles have appeared in the National Law Journal, Mergers & Acquisitions magazine, Tax Notes Today, the Journal of Real Estate Taxation, the Journal of S Corporation Taxation, the Journal of Multistate Taxation, Tax & Finance Newsletter, and the NYU Institute on Federal Taxation. In addition, he has spoken at meetings and seminars organized by numerous organizations, including the American Bar Association, the White House Conference on Small Business, the U.S. Small Business Administration, the Georgia Electronic Commerce Association, the Federation of Exchange Accomodators, the International Reinsurance Conference, the Service Corps of Retired Executives, the American Health Lawyers Association, the Southeastern Health Law and Policy Forum, and the United Way, as well as several panel-type TV discussion programs. Joe is admitted to practice in Georgia, the District of Columbia and Louisiana.