| Highlights: |
" <FONT size=2 face=""Arial, Helvetica, sans-serif"">Major Topics: - <FONT size=2 face=""Arial, Helvetica, sans-serif"">Applicable coverage of the tax acts of 2009 and any new legislation enacted before the presentation
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">S Corporations:
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Beware of Final IRS Regulations issued in 2008 regarding Open Debt of S Corporations
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Determine how to calculate basis. Worksheets are included.
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Understand the effect of stock basis and debt basis and IRSs recent focus on at-risk basis for shareholders
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Recognize how AAA applies or does not apply to certain S corporations
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Learn to apply the complex ordering rules and special elections that can have a big tax result
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Review K-1s and understand the practical issues of how to determine basis
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Discuss loss limitation rules in depth
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Become aware of when you can have a taxable dividend in an S corporation
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Understand distributions of cash and property and post-termination transition rules
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Learn how the passive loss rules can create other problems
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">LLCs and Partnerships:
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Understand the significant differences that can occur in calculating basis for an LLC vs. a partnership
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Determine how to calculate basis. Worksheets are included.
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Learn the difference between basis and at risk basis and what it means
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Review 754 step-up in basis rules
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Discuss inside vs. outside basis and optional basis adjustments
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Learn to apply the complex rules of distribution of cash vs. property and the planning strategies
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Find out how hot assets can change the game for distributions
- <FONT size=2 face=""Arial, Helvetica, sans-serif"">Review K-1s and understand the practical issues of how to determine basis
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