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Date / Time / Location

Monday, September 25, 2017
8:30 AM - 4:30 PM
Registration: 8:00 AM

NJCPA Education Center425 Eagle Rock Avenue,
Roseland, NJ 07068
973-226-4494

CPE Credits

  • 8.00 CPE Credits in TX

Pricing

  • $399.00 - Non Member
  • $299.00 - Member

Course Developer

Areas of Interest

Also Available On

As they gain more experience, staff are expected to take on more complex assignments with minimal supervision. The course is designed to be a step above a mere preparation seminar, including a deeper study into critical areas of formation, special allocations of income and deductions, basis calculations and implications of recourse and nonrecourse debt, basis step-up under §754 on transfer of an ownership interest, distributions, self-employment tax issues, and termination/liquidation of the LLC.

Designed For

Experienced CPAs desiring a comprehensive case approach to understand reasonably complex limited liability company issues and problems; also, CPAs who want a comprehensive, intermediate-level limited liability company practice manual.

Benefits

  • Prepare more complicated partnership returns
  • Understand certain advanced concepts of partnership taxation

Highlights

  • Recent tax acts and any new legislation
  • 704(b) basis for capital accounts vs. tax basis
  • Detailed rules of §704 for preventing the shifting of tax consequences among partners or members
  • Unreasonable uses of the traditional & curative allocation methods
  • Multiple layers of §704(c) allocations
  • Business situations and partnerships that qualify
  • Treatment of recourse versus nonrecourse debt basis
  • §179 limitations
  • Regulations for handling basis step-ups under §754 elections, and mandatory adjustments under §743 and §734
  • Subsequent contributions of property with §754 adjusted basis to another partnership or corporation
  • Capital account adjustments in connection with admission of new member
  • LLCs and self-employment tax

Prerequisites

Experience in business taxation.

Advance Preparation

None

Help Feed Those in Need

  • The NJCPA Emerging Leaders Council is hosting a Food Drive to benefit the Community FoodBank of New Jersey. Please bring your nonperishable items and canned goods to this event. Peanut butter and tuna fish are always needed.
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Robert Gilwee

Robert M. Gilwee, CPA, MS
Surgent Professional Education

Robert M. Gilwee, Jr. is a partner in the accounting firm Grandizio, Wilkins, Little, & Matthews, LLP in Towson, Maryland. He has more than 30 years of practice experience in taxation. His background includes assistance in resolving tax-structuring issues using LLCs, S corporations, and other entities. He is a frequent discussion leader on a variety of taxation topics. He received the Top Manuscript Award from Coopers & Lybrand and he is a member of the adjunct faculties of several colleges in his area. In 2015, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills.

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