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Author: Joni Larson
Publisher:
ISBN: 9781611634914
Category : Partnership
Languages : en
Pages : 0
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Book Description
The theory behind the "flow-through" tax treatment given partnerships is relatively straight forward--the partnership files an information return (paying no tax) and all partnership items are allocated among and reported by the partners on their individual income tax returns (and they pay the associated tax). However, the rules that govern how the items are allocated are complex, layered, and intricate. In addition, there are related rules, such as those for the determination of basis, how to tax sales of partnership interests, and how to treat the distribution of cash or property from the partnership. Often, the best way to understand how complex rules work and the results they are intended to bring about are seen best through examples of application of the rules. Problems and Solutions in Partnership Tax does just that; it provides numerous examples of how the rules for partnerships are applied. It begins with the most basic, such as the rules governing the contribution of property to a partnership, selection of the taxable year, and computation of partnership taxable income. It also covers the more complex rules, such as those governing special allocations of recourse deductions, allocation of recourse liabilities, allocation of nonrecourse deductions, allocation of nonrecourse liabilities, and disproportionate distributions. Throughout, the examples are keyed to the partnership balance sheet, showing the effect the applicable rule has on the relationship of the partners to the partnership and the partners to each other. This book is a great resource for anyone practicing partnership taxation.
Author: Joni Larson
Publisher:
ISBN: 9781611634914
Category : Partnership
Languages : en
Pages : 0
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Book Description
The theory behind the "flow-through" tax treatment given partnerships is relatively straight forward--the partnership files an information return (paying no tax) and all partnership items are allocated among and reported by the partners on their individual income tax returns (and they pay the associated tax). However, the rules that govern how the items are allocated are complex, layered, and intricate. In addition, there are related rules, such as those for the determination of basis, how to tax sales of partnership interests, and how to treat the distribution of cash or property from the partnership. Often, the best way to understand how complex rules work and the results they are intended to bring about are seen best through examples of application of the rules. Problems and Solutions in Partnership Tax does just that; it provides numerous examples of how the rules for partnerships are applied. It begins with the most basic, such as the rules governing the contribution of property to a partnership, selection of the taxable year, and computation of partnership taxable income. It also covers the more complex rules, such as those governing special allocations of recourse deductions, allocation of recourse liabilities, allocation of nonrecourse deductions, allocation of nonrecourse liabilities, and disproportionate distributions. Throughout, the examples are keyed to the partnership balance sheet, showing the effect the applicable rule has on the relationship of the partners to the partnership and the partners to each other. This book is a great resource for anyone practicing partnership taxation.
Author: ROBERT R.. LAWSKY WOOTTON (SARAH B.)
Publisher: West Academic Publishing
ISBN: 9781684671144
Category :
Languages : en
Pages : 629
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Book Description
The Second Edition of the Exam Pro on Partnership Taxation extends the approach of the original as a partnership tax study guide with questions and answers. Completely revised and updated, it includes lectures and study questions on the deduction for qualified business income under section 199A, the new regulations on allocating partnership recourse debt, and the choice of entity for conducting business and investment activities. New sample exams at the basic, intermediate and advanced levels give you an even better shot to ace your partnership tax exam. The book is designed to help JD and LLM students from the first day of class. It begins with over 50 short lectures on topics in partnership tax ranging from basic to advanced, illustrated by over 280 study questions, each with a complete explanation of the right (and wrong) answers. Several of the lectures focus on the basic accounting concepts that are essential to understanding partnership tax, to give students with no prior accounting background the tools they need to succeed in this subject. The book includes twelve sample exams (a total of 120 more questions) that, like the lectures, increase in difficulty from basic to advanced, labeled so that students can pick the exams that are right for them and the course they are taking. Full answers to each of the exam questions are provided, with cross-references to the lectures and the study questions. Robert R. Wootton, Professor Emeritus of Practice of Law, and Sarah B. Lawsky, Professor of Law, teach partnership tax at Northwestern Pritzker School of Law.
Author: George K. Yin
Publisher: Aspen Publishing
ISBN: 1543823580
Category : Law
Languages : en
Pages : 464
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Book Description
In this concise, tightly edited casebook, George K. Yin and Karen C. Burke emphasize core principles and policies to help students understand the overall structure and coherence of partnership taxation. The book’s organizational structure bridges concepts learned in the introductory income tax course and those presented in advanced tax courses, by offering a “building-block” approach that progresses from basic to complex partnership transactions. By emphasizing the policy choices that lend structure and coherence to the law, Partnership Taxation facilitates an understanding of the overarching principles of partnership tax. Students learn the law from basic source material—the Code and regulations—as well as tightly edited cases and other guidance. Many problems, questions, and explanations supplement the presentation to guide students through the challenging material. New to the Fourth Edition: The Fourth Edition reflects developments through February 2020, including: Expanded discussion of choice-of-entity issues in light of significant changes introduced by the 2017 tax legislation, including the 21% corporate tax rate and the section 199A passthrough deduction Revised regulations concerning allocation of partnership liabilities, including disregarded bottom-dollar payment obligations The temporary expensing deduction under section 168(k), as well as new limitations on business interest deductions and excess business losses New section 1061 imposing a three-year capital gain holding period for service partners receiving partnership interests in certain investment partnerships The revised definition of a “substantial built-in loss” under section 743(b) and repeal of the technical termination rule under section 708 Professors and students will benefit from: Approach: This book emphasizes core principles and policies to help students understand the overall structure and coherence of partnership taxation. Organization: The organizational structure bridges concepts learned in the introductory income tax course and those presented in advanced tax courses; “building-block” approach progresses from basic to complex partnership transactions. Depth: By providing in-depth coverage while avoiding unnecessary detail, the revised Fourth Edition facilitates mastery of the material and prepares students to think rigorously and creatively about the kinds of problems they will encounter as practitioners of tax and business law. Lenny faces are short character strings that describe emotions and make your text stand out.
Author: Robert R. Wootton
Publisher:
ISBN: 9781684678945
Category : Partnership
Languages : en
Pages : 563
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Book Description
The Second Edition of the Exam Pro on Partnership Taxation extends the approach of the original as a partnership tax study guide with questions and answers . Completely revised and updated, it includes lectures and study questions on the deduction for qualified business income under section 199A, the new regulations on allocating partnership recourse debt, and the choice of entity for conducting business and investment activities. New sample exams at the basic, intermediate and advanced levels give you an even better shot to ace your partnership tax exam. The book is designed to help JD and LLM students from the first day of class. It begins with over 50 short lectures on topics in partnership tax ranging from basic to advanced, illustrated by over 280 study questions, each with a complete explanation of the right (and wrong) answers. Several of the lectures focus on the basic accounting concepts that are essential to understanding partnership tax, to give students with no prior accounting background the tools they need to succeed in this subject. The book includes twelve sample exams (a total of 120 more questions) that, like the lectures, increase in difficulty from basic to advanced, labeled so that students can pick the exams that are right for them and the cours(more...)
Author: Stephen A. Lind
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
Author: Felix Lessambo
Publisher: Kluwer Law International B.V.
ISBN: 9403533846
Category : Law
Languages : en
Pages : 146
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Book Description
As the number of businesses registered as partnerships continues to grow in the United States (U.S.)—there are now more than seven million—it is imperative for parties with business interests in the country to be fully informed of the challenges pertaining to this sui generis form of business and its intricate body of tax law. In an illustrative manner not covered by other books on the subject, this invaluable guide discusses, analyzes, dissects, and helps resolve issues arising in such contexts as accounting methods, anti-abuse rules, liabilities, dissolutions, mergers, and bankruptcy, with expert guidance on preparing partnership financial statements. With numerous boxed examples and references to important court cases, the author thoroughly describes such topics as the following: types of partnerships (LP, LLP, LLC, PTP); the two concepts of partnerships; partnership formation; transactions between partnership and partners; allocation of revenues among partners; the partnership taxable year; base erosion and anti-abuse tax (BEAT); centralized partnership audit regime; recourse and nonrecourse liabilities; and special tax rules for publicly traded partnerships (PTPs). Key abstract concepts are explained in a down-to-earth way, and all formal requirements—filing the partnership tax return (Form 1065), reporting, preparing for an audit, and so on—are clearly illustrated with examples. As the first book to describe the economics of partnerships in a concise and comprehensive manner, this book provides a reliable and authoritative overview of the complexities of U.S. partnership taxation and expounds the relevant rules in accessible language. It will be warmly welcomed by tax law practitioners, members of international and U.S. tax law associations, tax academics, and the international business communities with interests in the U.S.
Author: John S Pennell, Philip F Postlewaite
Publisher:
ISBN: 9780791360361
Category :
Languages : en
Pages : 302
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Book Description
Author: William S. McKee
Publisher:
ISBN:
Category : Partnership
Languages : en
Pages : 1320
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Book Description
Author: Laura E. Cunningham
Publisher:
ISBN: 9781634604727
Category : Partnership
Languages : en
Pages : 0
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Book Description
This course book is designed to guide students through the conceptual framework of subchapter K. The material avoids neither the hard questions nor the conceptual difficulties, leaving students with a firm understanding of partnership taxation. Each chapter begins with a basic explanation of the relevant provisions and the roles that they play in the overall structure of subchapter K. It includes an increasingly detailed discussion of the specific rules, including multiple illustrative examples. Each chapter builds on the earlier chapters, leading the student through subchapter K. It is appropriate for J.D. or graduate-level law school courses on partnership taxation.
Author: Laura E. Cunningham
Publisher: West Academic Publishing
ISBN: 9780314198945
Category : Partnership
Languages : en
Pages : 0
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Book Description
This product provides a complete set of partnership taxation problems for use in the classroom. Each problem contains assignments related to the text as well as the Code and regulations, and suggested additional reading.
