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Secure Transaction CPE Credits
2 Credits: Taxes
Course Level
Overview
Format
Self-Study
Course Description
The tax law related to partnerships is complex. The Partnership Tax Guide course provides clarity by clearly stating the essential rules relating to the creation, operation, and liquidation of partnerships. Key topics covered include basic partnership concepts, basis, the sale of partnership interests, partnership terminations, partnership income and expenses, disguised sales, and anti-abuse rules. In short, this course presents a compact discussion of the essential issues related to partnership taxation.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Recognize the requirements for the partners in a partnership.
- Identify the tax rules pertaining to contributions to a partnership.
- Specify how the economic substance doctrine applies to partnerships.
- Recognize the tax implications of the various types of basis in a partnership.
- State the tax outcomes associated with the sale of a partnership interest.
- Specify the partnership elections that can impact the reported amount of taxable income.
- Identify the tax issues pertaining to the expenses that a partnership may recognize.
- Recognize the circumstances in which the revaluation of partnership assets would be appropriate.
Course Specifics
SS824365845
October 17, 2024
There are no prerequisites.
None
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Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02414-24-S
IRS Federal Tax Law Credits: 2
CTEC Course Number: 2071-CE-1982
CTEC Federal Tax Law Credits: 2
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …
QAS Self-Study
