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Live Webcast Replay

ACPEN Signature 2024: Partnership & LLCs Tax Return Preparation


Total Credits: 8 including 8 Taxes - Technical

Average Rating:
Not yet rated
Categories:
ACPEN Signature |  Accounting and Auditing |  Ethics |  IRS Approved
Faculty:
C. Clinton Davis, CPA, JD |  James A. Smith, CPA, CGMA |  Matthew S. Beard, JD. |  Joel N. Crouch, JD |  Mark George, CPA, ABV
Course Levels:
Update
Duration:
8 Hours
License:
Product Setting: Expires 90 day(s) after program date.

Dates


Description

LLCs and partnerships continue to present some of the greatest challenges for return preparers and advisors.  This program will address the latest developments:

  • New IRS audit initiatives
  • An SE tax update for LLCs and partnerships
  • Disregarded entity rules and transactions
  • Common allocation problems
  • Identifying various types of partnership debt properly for basis purposes
  • The 754 election in the sale of interests and at death
  • Reporting LLC and partnership interests on gift and estate tax returns and valuation of closely held businesses and minority interests

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Basic Course Information

Learning Objectives
  • Learn about new IRS audit initiative
  • Learn to avoid allocation and basis calculation errors
  • Identify disregarded entities for income tax purposes and how those are treated differently under other taxes
  • Learn how partnerships and LLCs are addressed in estate and gift tax reporting rules

Major Subjects
  • IRS audits
  • Allocations and Basis
  • Proper reporting
  • Valuation of closely held business interests

Course Materials

Faculty

C. Clinton Davis, CPA, JD's Profile

C. Clinton Davis, CPA, JD Related Seminars and Products

Krage & Janvey, L.L.P.


C. Clinton Davis JR, is with the law firm of Krage & Janvey, LLP in downtown Dallas.  He graduated cum laude from the SMU Dedman School of Law in 1980 and first in his graduating class from Northwestern State University of Louisiana in 1977 with a Bachelor of Science in Accounting.  He was first licensed in Florida as an attorney in 1980 and then in Texas in 1982.  He has been a licensed CPA in Texas since 1980.  He has been Board Certified in Tax Law by the Texas Board of Legal Specialization since 1988.  He has been named as a Super Lawyer, a Top Attorney in Texas by Texas Monthly, one of the Best Lawyers in Dallas by D Magazine and a Top Rated Lawyer by the Dallas Morning News, all in the tax area. 

Clint has in the past been an author and discussion leader for numerous CPE courses for the Texas Society of CPAs. Clint also speaks before various bar associations and accounting conferences. and is a frequent presenter and moderator on the Accountants’ Continuing Professional Education Network.

Clint primarily represents high net worth individuals and closely held businesses with much of his time devoted to real estate tax planning, implementation of S corporation ESOPs, mergers and acquisitions and private foundations.

 


James A. Smith, CPA, CGMA's Profile

James A. Smith, CPA, CGMA Related Seminars and Products

Managing Director

Smith, Jackson, Boyer & Bovard, PLLC


James A. (Jim) Smith, CPA, CGMA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas Certified Public Accounting firm.  He practices extensively in tax compliance, planning and controversy representation for individuals and entrepreneurial businesses. He also is engaged in the preparation, compilation and review of financial statements; exit strategy planning for entrepreneurs; merger and acquisition planning and transactions; and forensic accounting and litigation services. 

Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, and as a member of its Professional Standards and Federal Tax Policy Committees since their inception.  He served as a member of the AICPA Council 2007 through 2011 and from 2012 through 2015.  He also served as an appointed member of two of the AICPA’s key standard setting committees:  the Accounting and Review Services Committee from 2008 through 2011 and the Tax Practice Responsibilities Committee, 2014 to 2017.


Matthew S. Beard, JD. Related Seminars and Products

Matthew S. Beard, P.C


Matthew S. Beard, JD, practices with the firm of Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P., based in Dallas, Texas. His practice spans two broad areas of taxation: estate planning and probate and income tax and business planning. In his estate planning and probate practice, Mr. Beard designs and implements estate and business succession plans with an emphasis on federal tax issues. He often works closely with accountants, bankers and financial advisors in this process. Mr. Beard also represents fiduciaries in all facets of estate and trust administration. This typically includes court proceedings, tax matters, administration and transfer of assets, and matters before the IRS. Mr. Beard is the author of "An Introductory Guide to Tax and Estate Planning," which provides an introduction to estate planning under Texas law and planning for federal estate, gift, and generation-skipping transfer taxes. On transactional matters, Mr. Beard advises clients with a focus on tax issues. He works with a broad range of entities, such as partnerships, limited liability companies, and publicly traded "C" corporations.  Transactions include formations, acquisitions/mergers, and liquidations.  Mr. Beard is the author of "Annotated Tax Provisions for Limited Liability Companies," which includes tax provisions for company agreements with explanations of how the provisions operate and provide pass-through taxation. Prior to joining the firm in 2012, he was an associate with one of the largest Texas-based law firms.


Joel N. Crouch, JD's Profile

Joel N. Crouch, JD Related Seminars and Products


Joel N. Crouch, JD, counsels and advises businesses, wealthy individuals and families about their most demanding tax planning, estate planning and IRS controversies.  He often works with tax professionals and financial specialists to help develop solutions for their clients. Joel is a Partner in the firm and is Board Certified in Tax Law by the Texas Board of Legal Specialization. Joel has been recognized as one of the best in his field by Texas Monthly and Law and Politics magazines by being named a Texas Super Lawyer from 2003 through 2023. He has also been named one of the Best Lawyers in Dallas by D Magazine for the years 2012-2023. Mr. Crouch has been recognized by Best Lawyers in America® in Tax Law for the years 2015-2023.  Mr. Crouch was named the Best Lawyers 2022® Tax Law & Lawyer of the Year & in Dallas/Ft. Worth. Joel is a frequent speaker on procedural and substantive tax issues for legal and accounting professionals.  Some of his topics include: Tax Shelter Defense, IRS Examinations, Appeals, Litigation and Collection Strategies, IRS Criminal Investigations, IRS Offshore Activities, IRS Focus on Tax Professionals, Employment Classification, IRS Penalties, and Litigation Partnership Tax Cases.  He has also published various articles regarding the IRS and tax procedures.


Mark George, CPA, ABV's Profile

Mark George, CPA, ABV Related Seminars and Products

George Valuation Advisors


Mark George, CPA, ABV is Managing Director of George Valuation Advisors, a Dallas- based business valuation and financial consulting firm. For over 30 years, Mark George has been focused exclusively on the valuation of businesses, partnership interests, and intangible assets. He has completed hundreds of business appraisals in a wide variety of industries. His valuation opinions have provided the basis for gift and estate tax computations, employee stock ownership plans, acquisitions and divestitures, purchase price allocations including intangible asset valuations, derivative securities prices, restricted stock, and testifying in litigation support.


Dates

Wed, Nov 27, 2024 - 09:00am to 05:00pm CST
Wed, Nov 27, 2024 - 01:00pm to 09:00pm CST
Mon, Dec 09, 2024 - 09:00am to 05:00pm CST
Mon, Dec 09, 2024 - 01:00pm to 09:00pm CST
Fri, Dec 13, 2024 - 09:00am to 05:00pm CST
Fri, Dec 13, 2024 - 01:00pm to 09:00pm CST
Mon, Dec 23, 2024 - 09:00am to 05:00pm CST
Mon, Dec 23, 2024 - 01:00pm to 09:00pm CST
Fri, Dec 27, 2024 - 09:00am to 05:00pm CST
Fri, Dec 27, 2024 - 01:00pm to 09:00pm CST
Fri, Jan 03, 2025 - 09:00am to 05:00pm CST
Fri, Jan 03, 2025 - 01:00pm to 09:00pm CST
Wed, Jan 15, 2025 - 09:00am to 05:00pm CST
Wed, Jan 15, 2025 - 01:00pm to 09:00pm CST

Additional Info

Basic Course Information

Prerequisites

None


Advanced Preparation

None


Designed For

Industry and Public Accountants


Original Recording Date

11/13/2024

 


Yellow Book

No


Course Developer

Business Professionals' Network (ACPEN)


Date Added to Catalog

3/6/2024


Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints.


Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method

Group Internet Based


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
 


Course Registration Requirements

Online Registration


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