Practical Guide to Partnerships and LLCs (3rd Edition), by Robert Ricketts and Larry Tunnell, discusses the complex issues involving partnership taxation with utmost clarity. It uses hundreds of illustrative examples, practice observations, helpful charts and insightful explanations to make even the most difficult concepts understandable. The book reflects the authors' penchant for communicating the pertinent facts in very direct language and creating a context for understanding the multifaceted issues and applying them to practice. This new edition fully reflects all the latest developments in this complex area, including important the following: 1. Proposed Regulations on the treatment of exchanges of services for partnership interests. 2. Instructions concerning the new Schedule M-3 required with Form 1065. 3. Recent guidance with respect to the flow through of items (from partnerships or LLCs) involved in the calculation of the Code Sec. 199 production activities deduction. 4. Proposed Regulations on partnership allocations of look-through entity partners. 5. Recent cases concerning the use of family limited partnerships as an estate planning tool. 6. Proposed Regulations concerning the treatment of disguised sales by partners and partnerships. In six parts, Partnerships and LLCs: Tax Practice and Analysis covers the critical aspects of this complicated area, with individual parts focusing on partnership characteristics, funding, taxation of operations, partner's share of partnership debt, disposition of partnership interest, and distributions. From choice-of-entity considerations to sales and liquidations, the entire breadth of partnership and LLC taxation is covered. Special attention is given throughout to the complex inter-workings of rules that bind, tax and control these entity operations. In the book's first part focused on preliminary considerations, the basic underpinnings are presented covering key areas such as the "check the box" rules, "an
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Book Description
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About the Author
Robert Ricketts is the Frank M. Burke, Chair of Taxation and the Director of Accounting Programs at the Rawls College of Business at Texas Tech University. Larry Tunnell is an Associate Professor of Accounting at New Mexico State University in the College of Business Administration and Economics.
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Business activity may be conducted in various forms ranging from a sole proprietorship to a corporation. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
deemed money distribution, profit reporting ratio, tax basis capital account, deemed money contribution, substantial basis reduction, partnership minimum gain, nonrecourse debt deduction, liquidating cash distribution, guaranteed payment for capital, requested tax year, ordinary income assets, partnership interest attributable, interest adjusted basis, nonrecourse deductions, backup election, debt discharge income, fourth taxable year, requested annual accounting period, third taxable year, net taxable loss, operating cash flow distributions, distributee partner, liquidated partner, qualified nonrecourse debt, partnership interest basis Key Phrases - Capitalized Phrases (CAPs): (learn more)
Practical Guide, Internal Revenue Code, Corporation Observation, Tax Court, United States, Footnote Continued, Accounts Values, Book Tax Assets, Value Basis Cash, Social Security, Madison Gas, Technical Advice Memorandum, Treasury Department, Andy Brad Cynthia Special, Basic Rules, Carriage Square, Conference Report, Field Service Advice, Partner Code Tax Capital Liquidation Sec, Proposed Reg, Staff of the Joint Committee, Sun Country, A's Schedule, Assets Book Value Cash, Assets Cash New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Business activity may be conducted in various forms ranging from a sole proprietorship to a corporation. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
deemed money distribution, profit reporting ratio, tax basis capital account, deemed money contribution, substantial basis reduction, partnership minimum gain, nonrecourse debt deduction, liquidating cash distribution, guaranteed payment for capital, requested tax year, ordinary income assets, partnership interest attributable, interest adjusted basis, nonrecourse deductions, backup election, debt discharge income, fourth taxable year, requested annual accounting period, third taxable year, net taxable loss, operating cash flow distributions, distributee partner, liquidated partner, qualified nonrecourse debt, partnership interest basis Key Phrases - Capitalized Phrases (CAPs): (learn more)
Practical Guide, Internal Revenue Code, Corporation Observation, Tax Court, United States, Footnote Continued, Accounts Values, Book Tax Assets, Value Basis Cash, Social Security, Madison Gas, Technical Advice Memorandum, Treasury Department, Andy Brad Cynthia Special, Basic Rules, Carriage Square, Conference Report, Field Service Advice, Partner Code Tax Capital Liquidation Sec, Proposed Reg, Staff of the Joint Committee, Sun Country, A's Schedule, Assets Book Value Cash, Assets Cash New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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